A key driver of the macroeconomic environment in the UK is Labour’s heavily anticipated first Budget, due to be presented on 30 October. Early statements from the new government suggested a larger appetite for public sector investment than previous governments. Given the tight borrowing rules that the government is operating under, it is expected that there will be some increases in tax and/or cuts in benefits, to finance increased government expenditure. Comments by the Chancellor, Rachel Reeves at the start…