Reeves Gets Boost From Trio of Economist-Defying UK Data Points

Rachel Reeves’ future was in the balance this time last year — Britain’s borrowing costs had surged, forcing the Chancellor of the Exchequer to consider more tax hikes or spending cuts. Still, she survived and one year on the UK economy is treating the Labour government to some pleasant surprises.

When Reeves delivers her Spring Statement on March 3 she’ll be able to boast of the biggest budget surplus on record, which landed in January. Tax revenues have soared, according to the Office for National Statistics, which also said Friday that retail sales hit a 20-month high. ...