UK borrowing costs climb as Reeves walks ‘tightrope’ over spending plans

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Financial Times 15h ago

UK borrowing costs climb as Reeves walks ‘tightrope’ over spending plans - Financial Times

Quick Summary:

The chancellor has tried to reassure nervous investors, telling the Financial Times on Friday that she was not in a “race to get money out of the door” and that she would institute “guardrails” to ensure public money was well-spent on sensible investments.

The government’s bid to rethink its fiscal framework won the support of an influential think-tank on Tuesday as the Institute for Public Policy Research recommended it should ditch its rule requiring public debt to fall between years four and five of the forecast.

Fiscal rules changes already discussed within the Treasury include reducing the impact of losses incurred on the BoE’s gilt portfolio and removing liabilities associated with investment vehicles such as Labour’s mooted GB Energy.