UK's Reeves says she would like a bigger fiscal buffer but that means trade-offs

British finance minister Rachel Reeves said on Thursday she would like to have a bigger fiscal buffer to cope with volatile global markets, but that creating one in her budget next month would involve trade-offs on tax and spending.

"Would I like more headroom? Of course I would. But that does come with trade-offs because more headroom requires more tax revenue or less spending on public services like the NHS, so you've got to get the balance right there," Reeves told reporters.

On Wednesday she said she was looking at tax and spending measures for her next budget on November 26, having raised taxes by 40 billion pounds in her first fiscal plan last year.

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