Debt rule to change to fund major projects

Quick Summary:

Government claims the move contrasts with former PM Liz Truss's controversial mini-Budget.

Under this plan, "expert-led checks and balances" will determine the quality of government borrowing for investment.

In the government’s view this system will provide an independent quality control on major projects spending, that has been beset with delay and overspend, and proved more expensive in the UK than other major economies.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Debt Borrow Spending Government Investment Infrastructure Minister Projects Money Major

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 09:15:25 (3 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 778 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 23139549

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Official Website: bbc.co.uk

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News Last Updated: 9 hours ago

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