During the election, Labour committed to the previous government’s fiscal rules that the budget must move into balance, so that day-to-day costs are met by revenues, and debt must be falling as a share of the economy by the fifth year of the forecast.

British finance minister Rachel Reeves will seek to shift the world's sixth-biggest economy, and Prime Minister Keir Starmer's government, onto a new course next week with big increases in public spending and tax.

The chancellor has confirmed she will change the UK’s fiscal rules in her Budget next week - but taxes are still set to rise

Chancellor confirms new debt definition, saying it will ‘make space for increased investment’ as Tories claim interest rates will stay ‘higher for longer’

WASHINGTON (Reuters) -British finance minister Rachel Reeves said on Thursday she would change the measure of public debt that the government targets in next week's budget in order to allow more borrowing for investment.

UK Chancellor of the Exchequer Rachel Reeves confirmed that she would make tweaks to her fiscal rules to allow more borrowing for investment, as the new Labour administration seeks to boost economic growth.

Officially Rachel Reeves, the chancellor, will unveil Labour’s first budget (and probably the most important of the whole parliament) on Wednesday next week. But in practice budget announcements are now two-week news events,

Britain's finance minister Rachel Reeves said she would change the fiscal rules in the budget, and the Financial Times said she would be seeking to fund around 20 billion pounds a year of extra investment with increased borrowing.

UK finance minister Rachel Reeves announced Thursday changes to fiscal rules to open up billions for investment in the centre-left government's maiden budget, but warned of tax rises and spending

U.K. Finance Minister Rachel Reeves on Thursday confirmed she intends to change the country’s fiscal rules in the October budget.