Rachel Reeves will seek to fund around £20 billion a year of extra investment in Britain with increased borrowing, it was reported on Thursday. The Chancellor is set to tear up her fiscal rules, to allow her to borrow more long term, while also imposing stricter limits on in year spending.

British finance minister Rachel Reeves faces a tough task to raise the tax revenues she needs to invest more in public services and new infrastructure in her Oct. 30 budget.

Homeowners will face higher mortgage bills for longer if Rachel Reeves goes on a borrowing spree of tens of billions of pounds to fund investment in Britain’s infrastructure, Jeremy Hunt is warning. The former Chancellor accused his successor of “fiddling with her fiscal rules” to allegedly borrow up to £50 billion.