British finance minister Rachel Reeves will seek to shift the world's sixth-biggest economy, and Prime Minister Keir Starmer's government, onto a new course next week with big increases in public spending and tax.

UK Chancellor of the Exchequer Rachel Reeves confirmed that she would make tweaks to her fiscal rules to allow more borrowing for investment, as the new Labour administration seeks to boost economic growth.

Britain's finance minister Rachel Reeves said she would change the fiscal rules in the budget, and the Financial Times said she would be seeking to fund around 20 billion pounds a year of extra investment with increased borrowing.