Chancellor Rachel Reeves emphasizes that fiscal rules made by the Labour Party are crucial for maintaining economic credibility, especially as government borrowing costs rise.
The upcoming forecasts by the OBR on March 26 will be critical, determining whether the government can meet its fiscal rules and influencing future fiscal policy.
If the government fails to adhere to fiscal rules, Reeves may have to rethink her commitment to annual Budget announcements, potentially leading to tax hikes or spending restraint.
Darren Jones indicated that while spending restraint doesn't equate to cuts, it would imply significantly lower increases than previously anticipated, affecting overall fiscal strategy.
Collection
[
|
...
]