(Reuters) – British finance minister Rishi Sunak is planning to set out new rules that will commit him to stop borrowing to fund day-to-day spending within three years, the Financial Times reported on Thursday, citing people briefed on his thinking. Sunak’s fiscal rules will also require underlying debt to start falling by 2024-25, with it currently standing […]
Rishi Sunak to Introduce New Fiscal Rules to Limit UK Borrowing
(Reuters) – British finance minister Rishi Sunak is planning to set out new rules that will commit him to stop borrowing to fund day-to-day spending within three years, the Financial Times reported on Thursday, citing people briefed on his thinking.
Sunak’s fiscal rules will also require underlying debt to start falling by 2024-25, with it currently standing at about 100% of gross domestic product, the report said.
(Reporting by Vishal Vivek in Bengaluru, Editing by Rosalba O’Brien)
