Autumn Budget 24: Reeves promises to meet changed fiscal rules by 2030

'Public sector net financial liabilities'

Chancellor Rachel Reeves has said she will meet her new “stability” and "investment" rules by 2030, which ensure money for day-to-day spending will not be funded by borrowing.

Delivering the Labour party's first Budget since 2010 today (30 October), Reeves said the Labour party cannot undo "14 years of damage in one go".  However, the chancellor's new "stability rule" will "bring the current Budget into balance, so that we do not borrow to fund day-to-day spending", she added, while her fresh "investment rule" will change the way debt is measured in the UK.  "We will meet this rule in 2030 until that becomes the third year of the forecast. From then on, we will balance the current Budget in the third year of every Budget held annually each autumn," Reeves d...