The new official takes office with three fires! The new British finance minister will push the fiscal portfolio, and the pound is expected to receive a boost

The new government will also implement tax increases

After taking office, Reeves commissioned a review of public finances and used her speech in Parliament to attack the previous government, which was led at various stages by Sunak, Truss, and Johnson.

"They are promising solutions that they know will never be funded: roads that can never be built, public transport that can never be reached, hospitals that can never treat a single patient," says Mr. Reeves.

The Conservatives dismissed her accusation as an excuse for Labour to raise taxes.

Mr. Hunt, a former Conservative chancellor of the exchequer, said: "Today's actions are driven not by economic considerations, but by political ones. She wants to blame the last Conservative government for the tax increases and project cancellations she has been planning."

Paul Johnson, director-general of the Institute for Fiscal Studies (IFS), said some of the financial pressures did appear to be greater than expected. "Some of the specifics are really shocking and raise some tough questions for the previous administration," he said.

The UK's non-partisan Office for Budget Responsibility, which reviews the government's tax and spending plans, said it would review how Hunt's March budget was prepared, calling it a serious problem.

Reeves stressed that she intends to stick to her party's campaign promise not to raise income tax, value-added tax, and other major taxes.

Any other tax changes would be announced in the official budget announcement in October, which Reeves said would contain a new set of non-negotiable fiscal rules.

From the above news, it can be seen that the new British government's commitment to fiscal reform will help improve the economic situation, boost market confidence, and support the pound. Investors need to pay attention to this.