Is the UK's fiscal outlook turning around? The Chancellor is laying the groundwork for tax increases, British debt is rising rapidly, and the pound has fallen to a seven-month low.

According to the Zhidao Finance app, British Chancellor of the Exchequer Rishi Sunak paved the way for a comprehensive tax increase on Tuesday. She described her second annual budget as "difficult choices" to reduce UK debt while protecting public spending. Just three weeks before the budget was announced, Sunak made an unusual speech outlining the difficult economic situation she faces, highlighting high debt, low productivity, and stubborn inflation. During Sunak's speech, UK bond prices surged, with the 30-year bond yield hitting its lowest point since April. However, as the speech did not provide specific details of her plans, the gains later narrowed. The pound fell to its lowest level against the US dollar in seven months, reaching 1.3070.