Mujtaba Rahman is the head of Eurasia Group’s Europe practice. He tweets at @Mij_Europe . With less than two weeks to go before the U.K. budget, Chancellor of the Exchequer Rachel Reeves made a spectacular U-turn. As recently as last week, Reeves was preparing the ground for a controversial move to to raise income tax rates by 2 pence and cut national insurance contributions by the same amount — a move that would have breached her party’s 2024 election manifesto. Then, after talks with Prime