Having fiscal rules – and sticking to them – is crucial for governments.
The Bank of England expects anaemic GDP growth of 0.5% next year and 0.25% in 2025, and long-term growth of just 1%.
Reuters Graphics Reuters GraphicsThe Labour leadership is concerned that rewriting debt rules would unsettle bond investors still scarred by Truss’s fiscal follies.
What Britain’s next government shouldn’t do is obsess about restrictive fiscal rules at the expense of investments that could get the country out of its current hole.
The reports said that Sunak was looking at scrapping the portion of the project linking the northern cities of Manchester and Birmingham because costs have been soaring from the original 55.7 billion pounds to an estimated 106 billion pounds.
Persons:
Grant Shapps, Liz Truss, Rishi Sunak, Jeremy Hunt, Hunt, Keir Starmer, Worth ”, Ian Ball, Willem Buiter, John Crompton, Dag Detter, Jacob Soll, Crompton, Breakingviews, PSNW, –, Rachel Reeves, Labour’s, “, Reeves, Britain’s, Sunak, George Hay, Oliver Taslic
Organizations:
Reuters, Sunday, Sky News, Labour, Conservative, Bank of England, Sunak’s, Worth, Reuters Graphics Reuters, Britain’s, Thomson
Locations:
Britain, New Zealand, Zealand, Manchester, Birmingham