THE GUARDIAN: Exclusive: Chancellor’s plan to change rules to allow more borrowing comes as cost of government debt rises
Rachel Reeves is pushing ahead with plans to borrow billions of pounds extra for infrastructure investment, the Guardian has learned, despite concerns about the rising cost of UK government debt.
The chancellor told the cabinet on Tuesday she wanted to change how the Treasury accounted for capital spending to reflect its benefits, as allies say she intends to finalise her debt rule in the coming days.
The move, which will be confirmed to the Office for Budget Responsibility (OBR) as soon as Wednesday, will allow the government to borrow tens of billions more for capital spending over the course of this parliament.
Whitehall sources say she is committed to the plan despite a recent rise in the government’s borrowing costs, which some market experts have blamed on the prospect of higher debt but which others say is more connected to the US economy. » | Kiran Stacey, Political correspondent | Tuesday, October 8, 2024
Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Showing posts with label infrastructure investment. Show all posts
Showing posts with label infrastructure investment. Show all posts
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