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Britain announces major change to fiscal rules to free up billions in spending

  • U.K. Finance Minister Rachel Reeves announced plans to change fiscal rules in the October budget to free up billions for investment.
  • The Institute for Fiscal Studies estimated that targeting public sector debt could provide £50 billion of additional headroom.
  • Reeves highlighted the urgent need for investment in various sectors while noting rising borrowing costs are real-world effects of fiscal challenges.
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