The FTSE 100 has dipped in early trading as spooked investors brace for Rachel Reeves’ tax-raising Budget.

UK stocks fell as the Chancellor prepares to announce £40bn in measures aimed at stabilising public finances.

The FTSE-100 index at 8:15am was down 40.14 at 8179.47 – a drop of 0.5 percent. As of 8.50am it stood at 8,186.66.

Ms Reeves has been urged to “take the opportunity to boost confidence,” after a halt in growth due to uncertainty surrounding potential tax increases in the…