Government spending plans remain within a fiscal rule to show debt falling as a share of the economy in a few years’ time, but this largely relies on fuel duty rising – a prospect described by a...
The government has only met its target to show debt will fall by “pretending” certain measures, including the fuel duty freeze, will end this year, economists at the Institute for Fiscal Studies have...
The shadow chancellor has set out the potential next government’s spending agenda, and shown off an endorsement from a former Bank of England governor.
Chancellor Rishi Sunak unveiled a new set of fiscal rules in his second Budget, in a bid to reduce the public debt after the huge level of borrowing undertaken in response to Covid-19.
The government’s “arbitrary” fiscal rules are not fit for purpose and should be replaced by a more flexible framework, according to a leading research institute.
Rishi Sunak hinted at a coming change to the government’s fiscal rule, promising to report back to parliament in the autumn after consulting with experts on how extra spending could boost the economy.
