Davos: Reeves defends fiscal rules and says Heathrow expansion is ‘pro-growth’ January 22, 2025 Rachel Reeves has insisted the UK would continue to meet her “fiscal rules”, describing them as the “bedrock” of the stability she aims to restore to the economy and public finances. The Chancellor spoke at a Bloomberg event at the World Economic Forum in Davos, as the Office for National Statistics (ONS) said public sector [...]
Reeves vows ‘action’ to meet fiscal rules amid rise in borrowing costs January 11, 2025 Rachel Reeves has said she will “take action” to meet her fiscal rules following turbulence on the gilt markets. Increases in the Government’s borrowing costs have sparked concern that the Chancellor will be unable to meet her debt and spending targets, requiring either tax rises or deeper spending cuts when she delivers a fiscal statement [...]
Rachel Reeves says fiscal rules ‘non-negotiable’ during bid to boost ties with China January 11, 2025 Rachel Reeves vowed to stand by her “non-negotiable” fiscal rules, as her mission to China was overshadowed by further turbulence in the gilt markets. Visiting bicycle-maker Brompton’s flagship Beijing store on Saturday, the Chancellor declined to give a running commentary on the financial markets in the UK, but said the rules she set for herself [...]
Government ‘would breach fiscal rules with minor rate rise’ November 5, 2024 The Chancellor would be in breach of her own fiscal rules if interest rates remain just 30 basis points higher than the fiscal watchdog forecasts, Office for Budget Responsibility (OBR) economists have said. Giving evidence to the Treasury Committee, OBR member Tom Josephs told MPs that his colleagues conducted analysis that found “a change of [...]
Autumn Budget 2024: UK government bonds volatile as FTSE 100 dips October 30, 2024 Financial markets have wobbled in response to the new government's maiden Budget, with gilt yields jumping and the FTSE 100 ticking down.
Reeves fiscal rule change puts economy in danger of ‘crumbling’, City analyst warns October 28, 2024 "Tinkering with the definition of borrowing could be a big, if temporary, win," Nick Winters, a partner at Blick Rothenburg said.
Autumn Budget 2024: Chancellor confirms she will reform fiscal rules October 24, 2024 "Sustainable growth does not come from short-termism," the Chancellor argued. "It comes from a responsible, long-term plan to invest in the future".
Why do economists think public investment is good for growth? October 19, 2024 As the Budget approaches it seems clear that the government is preparing to ramp up public investment.
Mark Carney: Ex-Bank governor says fiscal rules must enable greater public investment October 10, 2024 "If government money is being spent to build or buy an asset on behalf of the nation, it is only right that its value is captured in the definitions of national debt," he wrote in the Times.
Taxes might have to go up by £25bn in Budget, IFS says October 10, 2024 Rachel Reeves may have to raise taxes by £25bn in the Budget if she wants to improve the delivery of public services, the influential Institute for Fiscal Studies (IFS) said today. Although the Chancellor looks set to reform the fiscal rules to enable more borrowing for investment, Reeves has committed to meet day-to-day spending out [...]