The Treasury has signaled a shift in its self-imposed debt rule to allow for borrowing billions for infrastructure projects, emphasizing expert checks on spending.
Darren Jones indicated the new safeguards are intended to prevent the financial chaos that followed the 2022 mini-Budget, establishing a 10-year infrastructure strategy.
The government's 'guardrails' for investment aim to bolster private sector confidence and improve the efficiency of government borrowing, contrasting past unfunded policies.
Current borrowing limitations stem from obligations to reduce total debt in five years, but the Treasury plans to ease these constraints for infrastructure funding.
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