'Once-in-a-parliament reset': Reeves rules out future fiscal events of Autumn Budget's scale

Public finances now on a 'firm footing'

Valeria Martinez
clock • 3 min read

Chancellor Rachel Reeves has ruled out future fiscal events on the scale of last week’s (30 October) Autumn Budget, describing it as a “once-in-a-parliament reset”.

During a Treasury Select Committee hearing today (6 November), the chancellor told MPs that the plans announced last week meant that the UK's public finances were now "on a firm footing", with a "much more honest" trajectory of public spending.  UK gilt yields hit their highest levels of the year the day after the Budget (31 October), as investors digested the additional borrowing set out by the chancellor, which the OBR said would be, on average, £36bn higher each year over the next five fiscal years. Reeves was told that the gilt market response to increased issuance could indicate ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

UK economy grows 0.2% in March but slowdown fears remain
UK

UK economy grows 0.2% in March but slowdown fears remain

'Uncertainty ahead'

Patrick Brusnahan
clock 15 May 2025 • 1 min read
BCA Research's Matt Gertken: US-UK trade deal nowhere near as good as it looks
UK

BCA Research's Matt Gertken: US-UK trade deal nowhere near as good as it looks

Contains 'gaping shortfalls'

Matt Gertken
clock 13 May 2025 • 5 min read
BoE interest rate cut predicted to be the first of many
UK

BoE interest rate cut predicted to be the first of many

BoE cut interest to 4.25%

Patrick Brusnahan
clock 08 May 2025 • 3 min read
Trustpilot