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UK budget beat lacks a long-term lift

 “We beat the forecasts this year and will beat them again,” British finance minister Rachel Reeves said triumphantly on Wednesday, crowing like a CEO on earnings day. Her budget was a success, in that it lifted the headroom she will keep over and above her fiscal targets to 22 billion pounds, when many investors expected just 15 billion pounds. As it often happens with share-price pops, however, momentum could be short lived. [....]