Chancellor facing tough questions over fiscal rules as market woes deepen
2 days, 3 hours ago

Chancellor facing tough questions over fiscal rules as market woes deepen

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The pound has remained under pressure amid an intensifying sell-off in government bonds as Chancellor Rachel Reeves faces mounting questions over her fiscal rules. Sterling fell another 0.5% to 1.214 US dollars on Monday, having last week hit its lowest level against the dollar since November 2023, with government borrowing costs rising ever higher. She said: “The bond market is attempting to intimidate Chancellor Rachel Reeves into forcing the UK to live within its means. Rachel Reeves needs to acknowledge this before the bond market will calm down.” The increase in the cost of servicing Government debts is seen cutting into Labour’s already slim £9.9 billion financial headroom.

Market Bond Reeves Rachel Reeves Chancellor Fiscal Fiscal Rules Chancellor Rachel Reeves Pound  tough  fiscal  chancellor  sign  rachel  pound  deepen  spending  bond  questions  uk  rules  facing  market  reeves  woes

History of this topic

Boost for Reeves as inflation falls after No 10 refuses to rule out emergency budget: Live
Trending News
7 hours, 50 minutes ago

Boost for Reeves as inflation falls after No 10 refuses to rule out emergency budget: Live

The Independent  

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Rachel Reeves refuses to rule out emergency spending cuts amid economic crisis fears
19 hours, 34 minutes ago

Rachel Reeves refuses to rule out emergency spending cuts amid economic crisis fears

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Addressing the Commons on Tuesday, Ms Reeves also faced questions over her decision to travel …

Rachel Reeves faces questions over future in Hamlet-inspired Tory attack
1 day, 1 hour ago

Rachel Reeves faces questions over future in Hamlet-inspired Tory attack

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rachel Reeves’ handling of the …

Reeves will be Chancellor for whole of this Parliament, No 10 says
Top News
1 day, 22 hours ago

Reeves will be Chancellor for whole of this Parliament, No 10 says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rachel Reeves will be Chancellor …

Downing Street insists Rachel Reeves will be chancellor ‘for whole of this parliament’
1 day, 22 hours ago

Downing Street insists Rachel Reeves will be chancellor ‘for whole of this parliament’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Downing Street has insisted that Rachel Reeves will be the chancellor …

Pressure mounts on Reeves as Starmer refuses to guarantee future of her job
2 days, 2 hours ago

Pressure mounts on Reeves as Starmer refuses to guarantee future of her job

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Answering questions following a speech in London the Prime …

Rachel Reeves has boxed herself in over borrowing – only the markets can save her now
4 days, 22 hours ago

Rachel Reeves has boxed herself in over borrowing – only the markets can save her now

The Independent  

Those of us who are geeky enough to watch things like bond yields have been aware for some time that Britain’s borrowing costs have slowly been moving towards breaking point for the chancellor. We’ve had questions in the House of Commons, government bond prices have jumped from the financial conversation into the national one – and the story has moved …

Government says ‘no need for emergency intervention’ in financial markets
5 days, 22 hours ago

Government says ‘no need for emergency intervention’ in financial markets

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Government has said there …

Markets ‘orderly’ despite soaring borrowing costs, says Treasury minister
6 days ago

Markets ‘orderly’ despite soaring borrowing costs, says Treasury minister

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Treasury Minister Darren Jones said that the Government’s fiscal …

Government borrowing costs keep rising as pound sinks to lowest level in over a year
6 days, 6 hours ago

Government borrowing costs keep rising as pound sinks to lowest level in over a year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The pound has tumbled to …

Reeves may need to cut spending after jump in borrowing costs, say economists
6 days, 23 hours ago

Reeves may need to cut spending after jump in borrowing costs, say economists

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The rise in government borrowing costs poses a challenge …

Pound slumps as government borrowing costs highest since 2008
1 week ago

Pound slumps as government borrowing costs highest since 2008

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The value of the pound …

Labour's borrowing costs surge 'worse than Liz Truss chaos': Rachel Reeves faces spending crisis after interest rates hit 27-year high on fears of 'Stagflation'
1 week ago

Labour's borrowing costs surge 'worse than Liz Truss chaos': Rachel Reeves faces spending crisis after interest rates hit 27-year high on fears of 'Stagflation'

Daily Mail  

Rachel Reeves has been warned that the spike in UK borrowing costs is worse than the crisis that ended Liz Truss's premiership. The interest rate on 30-year gilts - the government's long-term financing vehicle - approached 5.25 per cent yesterday, the highest level for 27 years. Rachel Reeves has been warned that the spike in UK borrowing costs is worse …

Reeves warns ministers of cuts as ‘every pound’ of government spending to face review
1 month ago

Reeves warns ministers of cuts as ‘every pound’ of government spending to face review

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Cabinet ministers have been warned they must find more savings in …

Reeves insists public services will have to ‘live within their means’
1 month, 1 week ago

Reeves insists public services will have to ‘live within their means’

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Ms Reeves told the conference, Speaking to reporters later on Tuesday, she suggested the …

It’s time Britain got real – the only way is Europe
1 month, 4 weeks ago

It’s time Britain got real – the only way is Europe

The Independent  

The chancellor’s response to the latest miserable economic growth figures was peevish to the point of bizarre. Sounding like a mum who’s been told her children have just flunked their mock exams, this trained economist declared: “I am not satisfied with these numbers.” If a chancellor’s mere disfavour was sufficient to boost growth, then all our problems would soon be …

Chancellor Rachel Reeves’ Budget clears first House of Commons hurdle
2 months, 1 week ago

Chancellor Rachel Reeves’ Budget clears first House of Commons hurdle

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rachel Reeves’ Budget, which she …

Spike in UK Borrowing Costs Wipes Out Reeves’ Fiscal Headroom
2 months, 1 week ago

Spike in UK Borrowing Costs Wipes Out Reeves’ Fiscal Headroom

Live Mint  

The increase in UK borrowing costs since last week’s budget has wiped out all of Chancellor of the Exchequer Rachel Reeves’ headroom against her main fiscal rule, raising the prospect of further tax rises or spending cuts unless the debt picture changes. Tom Josephs, a senior member of the UK’s fiscal watchdog, told lawmakers Tuesday that a 0.3 percentage point …

Chancellor seeks to calm markets amid jitters after Budget borrowing spree
2 months, 2 weeks ago

Chancellor seeks to calm markets amid jitters after Budget borrowing spree

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves is seeking …

Reeves' sniffle makes the bond markets shiver, says PATRICK TOOHER
2 months, 2 weeks ago

Reeves' sniffle makes the bond markets shiver, says PATRICK TOOHER

Daily Mail  

Rachel Reeves clearly loves her new borrowing rules. Bending the rules: The Chancellor has ditched the old way of measuring the parlous state of the public finances so that she can borrow more to fund a spending spree But no amount of magic wand-waving and crystal-ball gazing can hide the fact the national debt remains on an ‘unsustainable’ course. Even …

How Labour might unlock £57 billion at the budget in ‘simple’ fiscal rule change
2 months, 2 weeks ago

How Labour might unlock £57 billion at the budget in ‘simple’ fiscal rule change

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Rachel Reeves will …

Investors brace for £300bn borrowing binge in Rachel Reeves' Budget
2 months, 2 weeks ago

Investors brace for £300bn borrowing binge in Rachel Reeves' Budget

Daily Mail  

Government borrowing costs have hit their highest level since Labour came to power as global investors brace for the Chancellor to unleash a £300billion borrowing binge. The rate has surged from 3.75 per cent in mid-September amid concern on the bond markets about the Chancellor's borrowing plans and her decision to significantly loosen debt rules. Investors are braced for the …

Ailbhe Rea: The Night Before the Budget
2 months, 2 weeks ago

Ailbhe Rea: The Night Before the Budget

Bloomberg  

Rachel Reeves will deliver her budget tomorrow — the first by a Labour government in 14 years, the first in history by a female chancellor, and set to be one of the UK’s biggest ever tax-raising events. As Philip Aldrick writes today in his essential briefing on everything to look for, Reeves has given herself “the seemingly contradictory tasks of …

Hoyle rebukes Chancellor Rachel Reeves over ‘premature disclosure’ of Budget
2 months, 2 weeks ago

Hoyle rebukes Chancellor Rachel Reeves over ‘premature disclosure’ of Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sir Lindsay Hoyle has accused …

Reeves confirms change to debt rule and warns of higher taxes as Budget looms
2 months, 3 weeks ago

Reeves confirms change to debt rule and warns of higher taxes as Budget looms

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “That will make space for increased investment in the …

Reeves warned over £50bn ‘debt fiddle’
2 months, 3 weeks ago

Reeves warned over £50bn ‘debt fiddle’

The Telegraph  

Rachel Reeves has been warned that interest rates will stay higher for longer after the Chancellor said she will change Britain’s debt rules to unleash a borrowing spree of up to £50bn. The Chancellor confirmed she will change how debt is calculated to take into account the benefits of investment spending at her maiden Budget next week, even as her …

I was Rachel Reeves’s boss at the Bank of England – here’s what she should do now
3 months ago

I was Rachel Reeves’s boss at the Bank of England – here’s what she should do now

The Independent  

Dear Rachel, I know from your time at the Bank of England that you will not be daunted by the formidable challenges facing you as chancellor. There is only one sensible definition of fiscal sustainability – the structure of tax rates will generate sufficient revenue to allow the ratio of debt to national income to fall slowly but steadily in …

Rachel Reeves is accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August
3 months ago

Rachel Reeves is accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August

Daily Mail  

Rachel Reeves was yesterday accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August amid the Chancellor’s relentlessly ‘negative’ rhetoric. Rachel Reeves put a positive tone on the news on Friday, pointing to a major investment summit being held next week Official figures showed GDP expanding 0.2 per cent at the end …

Rachel Reeves’s potential borrowing plan risks repeat of Truss mini-Budget meltdown, warns financial expert
3 months ago

Rachel Reeves’s potential borrowing plan risks repeat of Truss mini-Budget meltdown, warns financial expert

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The response recalls the shockwaves from Truss’s controversial fiscal plan …

Britain’s borrowing costs nearly double Germany’s as investors brace for Budget
3 months, 1 week ago

Britain’s borrowing costs nearly double Germany’s as investors brace for Budget

The Telegraph  

Rachel Reeves, the Chancellor, has promised to take “difficult decisions” in her upcoming Budget to limit ever-increasing debts. Downing Street on Tuesday dismissed suggestions that changes to the fiscal rules could trigger a bond market meltdown similar to the one seen after the mini-Budget in 2022. “That includes moving the current Budget into balance, it includes debt falling as a …

For her next trick... how the Chancellor could make debt seem to disappear - as millions brace for a painful October Budget
3 months, 2 weeks ago

For her next trick... how the Chancellor could make debt seem to disappear - as millions brace for a painful October Budget

Daily Mail  

Gordon Brown bent them. Now Rachel Reeves is set to follow the example of previous Chancellors by changing the so-called 'fiscal rules' – the Government's self-imposed limits on debt and borrowing. Rachel Reeves is set to follow the example of previous Chancellors by changing the so-called 'fiscal rules' – the Government's self-imposed limits on debt and borrowing As things stand, …

Reeves ‘risks jump in interest rates’ by rewriting debt rules
3 months, 2 weeks ago

Reeves ‘risks jump in interest rates’ by rewriting debt rules

The Telegraph  

Rachel Reeves’s “opportunistic” attempt to rewrite Britain’s fiscal rules ahead of the Budget risks causing a surge in interest rates, a leading think tank has warned. The Institute of Fiscal Studies said any move to alter the Chancellor’s self-imposed fiscal rules “would not be without risks”, which comes ahead of her maiden Budget in October. However, the IFS warned that …

Rachel Reeves 'will rewrite fiscal rules in Budget so government can borrow another £30BILLION for projects' - despite debt pile already being at an 80-year high
3 months, 3 weeks ago

Rachel Reeves 'will rewrite fiscal rules in Budget so government can borrow another £30BILLION for projects' - despite debt pile already being at an 80-year high

Daily Mail  

Speculation is mounting that Rachel Reeves will overhaul fiscal rules in the Budget so the government can pump up borrowing. However, any such move would raise concerns after government borrowing hit 100 per cent of GDP for the first time since 1961. Speculation is mounting that Rachel Reeves will overhaul fiscal rules in the Budget so the government can pump …

Reeves prepares to rewrite debt rules to unlock up to £50bn in spending
3 months, 3 weeks ago

Reeves prepares to rewrite debt rules to unlock up to £50bn in spending

The Telegraph  

Rachel Reeves is considering rewriting Britain’s debt rules in a move that could unlock up to £50bn of spending in her maiden Budget. The Chancellor is understood to be considering changing how debt is calculated to take into account investment spending, as she gave the clearest signal yet that she wanted to relax the rules. But if we put off …

Chancellor ‘hit the right notes’ in vision for economy, say business leaders
3 months, 3 weeks ago

Chancellor ‘hit the right notes’ in vision for economy, say business leaders

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Business group leaders have said …

Why the Left wants to tempt Reeves into a risky borrowing binge
3 months, 4 weeks ago

Why the Left wants to tempt Reeves into a risky borrowing binge

The Telegraph  

In her first big move as Chancellor, Rachel Reeves sought to demonstrate an iron grip over the public purse. Now he either breaks them – or makes more cuts and bleeds popularity.” The paper has also since been joined by eight economists, mostly from academia and the public sector, who have written a letter arguing the Chancellor should tear up …

Can Rachel Reeves get away with changing the rules on government borrowing?
5 months, 1 week ago

Can Rachel Reeves get away with changing the rules on government borrowing?

The Independent  

Rachel Reeves certainly looked very cross when she gravely told the House of Commons the other day that she’d discovered the now infamous “black hole” in the public finances for the current year. It’s certainly true that at least some of that deficit is down to a genuine political choice made by Reeves and the government – the pay boost …

Watch as chancellor Rachel Reeves sets out Labour’s plan for economic growth
5 months, 2 weeks ago

Watch as chancellor Rachel Reeves sets out Labour’s plan for economic growth

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Watch as Rachel Reeves sets out her plan for economic growth …

Chancellor Rachel Reeves is expected to reveal £20billion hole in UK's public finances - intensifying fears that hefty Labour tax hikes are on the way
5 months, 2 weeks ago

Chancellor Rachel Reeves is expected to reveal £20billion hole in UK's public finances - intensifying fears that hefty Labour tax hikes are on the way

Daily Mail  

Rachel Reeves is set to reveal a staggering deficit in the public finances of up to £20billion, working up to a significant tax hike this autumn. Rachel Reeves is set to reveal a staggering deficit in the public finances of up to £20billion, working up to a significant tax hike this autumn The Chancellor is expected to implement tax increases …

Britain’s Treasury chief says stimulating economic growth is the new Labour government’s mission
6 months, 1 week ago

Britain’s Treasury chief says stimulating economic growth is the new Labour government’s mission

Associated Press  

LONDON — Britain’s new Labour government will make stimulating economic growth its mission, the Treasury chief said Monday, pledging to limit bureaucracy to make it easier to invest in the country. Britain’s first female Treasury chief and a former Bank of England economist, Reeves said sustained economic growth was the only way to improve living standard s for all and …

UK economy needs fundamental course correction, says shadow chancellor Reeves
9 months, 3 weeks ago

UK economy needs fundamental course correction, says shadow chancellor Reeves

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. During the annual Mais Lecture in the City of …

Jeremy Hunt accuses Rachel Reeves of 'fairy tale' economics after Labour conference
1 year, 3 months ago

Jeremy Hunt accuses Rachel Reeves of 'fairy tale' economics after Labour conference

The Telegraph  

Jeremy Hunt has accused Rachel Reeves of peddling “fairy tale” economics after Labour’s shadow chancellor set out her stall to voters in her conference speech. “It is extraordinary that inflation wasn’t mentioned once by Rachel Reeves when it is the biggest challenge facing the British economy,” he said. “Instead, Reeves made it clear Labour will increase borrowing by £28 billion …

Liz Truss exclusive: ‘I assumed upon entering Downing Street my mandate would be respected. How wrong I was’
1 year, 11 months ago

Liz Truss exclusive: ‘I assumed upon entering Downing Street my mandate would be respected. How wrong I was’

The Telegraph  

However, brewing in the background there was an issue relating to pension funds, which neither of us had been made aware of – a problem that would ultimately bring my premiership to an abrupt and premature end because of the panic it induced. The day before the mini-Budget, the Bank of England raised interest rates by 0.5 per cent, whereas …

Rip up fiscal rules, Thatcherite John Redwood tells Liz Truss
2 years, 4 months ago

Rip up fiscal rules, Thatcherite John Redwood tells Liz Truss

The Telegraph  

Britain’s fiscal rules should be ripped up by Liz Truss if she wins the Conservative leadership race, one of her key allies has said. Sir John Redwood, who served as the head of Margaret Thatcher’s Downing Street policy unit and is tipped to return to government if Ms Truss wins, said she should abandon the practice of targeting a set …

Grim economic outlook should worry chancellor more than debt costs, economists warn
2 years, 9 months ago

Grim economic outlook should worry chancellor more than debt costs, economists warn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The chancellor should be more …

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