British Treasury chief Rachel Reeves raised taxes Wednesday by around 40 billion pounds ($52 billion) to plug a hole she claims to have identified in the public finances and fund the U.K.'s cash-starved public services,

Today we deliver on that promise.” Under Labour the direction of travel is clear: the state will be bigger and taxes will be higher. But another question was ignored: will it make Britain any brighter?

On this episode of In the City, we discuss what Rachel Reeves’ first budget means for citizens, businesses and the government.