Britain’s Labour government will come under intense scrutiny on Wednesday, as Finance Minister Rachel Reeves prepares to update lawmakers on her spending and taxation plans and the nation’s economic outlook amid unsettling times for the U.K. Reeves is expected to announce billions of pounds worth of spending cuts as a way to close a budget shortfall caused by a rise in borrowing costs since her first fiscal plan, released last fall. The finance minister has already vowed to stick to her self-imposed “fiscal rules” set out in the “Autumn Budget” last October: to ensure that day-to-day spending is met by tax revenues ... (full story)