According to the Financial Times, moody's warned on Friday that UK Chancellor of the Exchequer Rishi Sunak's plan to increase borrowing after amending UK fiscal rules poses an 'additional challenge' to public finances. Moody's stated that in the assessment of the first budget of the Labour government, Sunak has left himself limited room for absorbing unexpected shocks while still complying with her new fiscal rules. UK Chancellor of the Exchequer Rishi Sunak announced a budget on Wednesday that increases taxes by over 40 billion British pounds and also increases borrowing to fund additional daily spending and government investments. Moody's stated, 'In our view, the increase in borrowing will pose an additional challenge to the already difficult fiscal consolidation prospects. The budget provides almost no help in improving the UK's economic growth in the coming years.'