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Chancellor Rachel Reeves to rewrite public finance rules to borrow more for investment
Posted
October 24, 2024
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7:43Now PlayingThe chancellor is to rewrite the government's fiscal rules in the autumn budget to allow her to increase borrowing for public investment by around £50bn.
Speaking to Sky's Paul Kelso in Washington DC, Rachel Reeves said the self-imposed rule under which borrowing must be falling by the fifth year of economic forecasts will be redefined from the current measure of public sector net debt.
Ms Reeves would not be drawn on what measure will replace the current rule but there is speculation that she will favour using public sector debt net of financial liabilities.
#Budget2024 #Economy #Politics #UK
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