After weeks of speculation, chancellor will tell IMF in Washington that UK’s debt measure will be redefined to permit borrowing for investmentRachel Reeves will announce at the International Monetary Fund a plan to change Britain’s debt rules that will open the door for the government to spend up to £50bn extra on infrastructure projects.After weeks of speculation, the chancellor will confirm at the fund’s annual meetings in Washington on Thursday that next week’s budget will include a new method for assessing the UK’s debt position – a move that will permit the Treasury to borrow more for long-term capital investment. Continue reading…
Source link : https://www.theguardian.com/business/2024/oct/23/reeves-to-announce-major-change-to-fiscal-rules-releasing-50bn-for-spending
Author : Larry Elliott, Pippa Crerar and Richard Partington
Publish date : 2024-10-23 18:36:31
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Reeves to announce major change to fiscal rules releasing £50bn for spending
