UK Finance Minister Rachel Reeves makes a speech during the Labour Party Conference that is held at the ACC Liverpool Convention Center in Liverpool, UK on September 23, 2024.
LONDON — U.K. Finance Minister Rachel Reeves will deliver the government's hotly awaited debut budget on Wednesday, putting to bed weeks of uncertainty over potential tax hikes and spending cuts.
Reports suggest that the Treasury could target public sector net financial liabilities (PSNFL) in the U.K.'s measure of debt, rather than public sector net debt.
The PSNFL measure takes in a wider account of the government's balance sheet, including financial assets and liabilities, than public sector net debt.
In a note Friday, Goldman Sachs estimated that the changes could increase the government's fiscal headroom by around £50 billion ($65 billion).
Persons:
Rachel Reeves, — Labour's, —, Keir Starmer, Reeves, Goldman Sachs, Goldman sachs
Organizations:
Labour Party Conference, ACC Liverpool Convention Center, LONDON, Finance, Sky News, Financial Times, Treasury
Locations:
Liverpool