Fiscal rules 'make no difference to government actions or incentives'

Fiscal rules 'make no difference to government actions or incentives'

Fiscal rules are “largely ineffective” and fail to impose discipline on public expenditure, a new report has said, bringing into question claims made by UK Chancellors and the International Monetary Fund that a clear list of targets can stabilise public finances.  Chancellor Rachel Reeves has held up her “iron-clad” fiscal rules, which hinge on changing forecasts made by the Office for Budget Responsibility (OBR), as evidence for her commitment …