Economists call for change to rules to allow more investment

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LONDON: A group of leading economists has told UK Chancellor Rachel Reeves to rip up her financial rules at the October budget in order to borrow more to invest in the country’s ailing public infrastructure.

The OBR currently operates with a five-year timeframe and a paper it recently released showed that the gains from infrastructure investment over that time horizon are reasonably small.

The Resolution Foundation think tank said £19bil of extra spending needs to be found for public services simply to restore normal trends.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaKenya

Topics: Budget UK /Business/Business News Rachel Reeves Infrastructure Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-17 @ 07:00:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 568 words

Reading Time: 4 minutes read

Sentences: 17 lines

Sentence Length: 34 words per sentence (average)

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Copyright Owner: © The Star

News ID: 22551502

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