Rachel Reeves’ upcoming Budget represents a pivotal shift in economic strategy focusing on higher public investment and taxes, aiming to bolster public services and promote green transition.
The proposed change in debt definition will allow higher borrowing, providing necessary funds for public investment aimed at supporting the green transition and addressing pressing growth concerns.
The Budget narrative emphasizes that higher public investment is critical for achieving net zero goals and sustained economic growth, despite remaining unresolved issues in non-ring-fenced spending areas.
Increased public investment is expected to be tied to the green agenda and aims to address energy costs; meanwhile, private sector incentives are critical for stimulating overall investment.
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