The U.K. government may have to increase taxes or reduce spending in some departments to finance defense spending, RBC Capital Markets strategists say in a note. The government published the Defence Investment Plan on Tuesday, outlining 10.3 billion pounds ($13.6 billion) of funding to be raised by "reallocating budget from across government departments". The plan noted that a further 4.7 billion pounds will be confirmed at the budget statement in autumn. (miriam.mukuru@wsj.com)
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U.K. Tax Rises or Spending Cuts Likely to Fund Defense Spending — Market Talk
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The U.K. government may have to increase taxes or reduce spending in some departments to finance defense spending, RBC Capital Markets strategists say in a note. The government published the Defence Investment Plan on Tuesday, outlining 10.3 billion pounds ($13.6 billion) of funding to be raised by…