Resolution Foundation calls on Reeves to rewrite fiscal rules to achieve growth

'Almost no room for additional borrowing'

Think-tank Resolution Foundation has called on Chancellor Rachel Reeves to rethink how the UK defines its fiscal rules in order to deliver growth in the upcoming Autumn Budget.

In a briefing note today (14 October), the firm said that the way in which the debt target is currently formulated "allows almost no room for additional borrowing to invest".  Research director James Smith and senior economists Emily Fry and Cara Pacitti said the chancellor is faced with a plethora of options for reform to facilitate improved fiscal flexibility in the Budget.  Reeves urged to allow National Wealth Fund to issue bonds to unlock £100bn of private finance On the side of incremental change, technical tweaks such as including, instead of excluding, Bank of England liabi...