Rachel Reeves announces major change to fiscal rules to free up billions of pounds

The chancellor has confirmed she will change the UK’s fiscal rules in her Budget next week - but taxes are still set to rise

Chancellor of the exchequer Rachel Reeves
(Image credit: Photo by Jonathan Brady - Pool/Getty Images)

Rachel Reeves has confirmed she will change the UK’s fiscal rules in her Budget next week, which will free up billions of pounds for infrastructure spending.

The chancellor said she would make the technical change to the way debt is measured in order to allow the government to pay for extra investment.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.