US EditionReeves to stick to fiscal rules amid budget wrangles ahead of spending review
- Chancellor Rachel Reeves confirmed on June 4, 2025, in Rochdale that she would maintain strict fiscal rules ahead of the Spending Review next week.
- This position comes amid disputes within the Cabinet regarding funding allocations for departments, with demands surpassing available resources despite increases in taxes and adjustments to borrowing rules.
- Reeves announced a £15.6 billion transport investment package for northern and midland cities, funding metro extensions and mass transit projects in several regions, while denying claims that Home Office cuts will harm policing.
- She emphasized that last year’s budget included measures that raised taxes by £40 billion and maintained that her fiscal rules are firmly set, warning that compromising them could undermine market trust and lead to economic instability.
- The Spending Review will require hard choices including potential spending cuts or limited tax changes, as economists warn balancing investment, political pressures, and fiscal discipline remains challenging.
13 Articles
13 Articles
Reeves Rules Out Tax Hikes Ahead of Spending Review, but Economists Warn of Tough Trade-offs
Chancellor Rachel Reeves has reaffirmed the government’s commitment to its fiscal rules and pledged not to raise taxes on working people, even as economists warned of “unavoidably tough choices” ahead of next week’s Spending Review. Reeves is due to outline departmental and investment budgets for the next three years on June 11. Speaking in Rochdale on Wednesday, she described her fiscal rules as “non-negotiable,” insisting she would “never” jeo…
Reeves to stick to fiscal rules amid budget wrangles ahead of spending review - Banbury FM
Rachel Reeves acknowledged she had been forced to reject calls for funding for “good” projects as she refused to loosen the rules governing her stewardship of the public finances. The Chancellor has been involved in wrangles with Cabinet colleagues over departmental budgets ahead of next week’s spending review. She insisted her self-imposed “fiscal rules” were “non-negotiable” because she would not risk the economic chaos that could be caused if…
Reeves to stick to fiscal rules amid budget wrangles ahead of spending review - Rother Radio
Rachel Reeves acknowledged she had been forced to reject calls for funding for “good” projects as she refused to loosen the rules governing her stewardship of the public finances. The Chancellor has been involved in wrangles with Cabinet colleagues over departmental budgets ahead of next week’s spending review. She insisted her self-imposed “fiscal rules” were “non-negotiable” because she would not risk the economic chaos that could be caused if…
Beware UK gilt yields ahead of Spending Review
With UK long gilt yields rising, and concerns over the wiggle room for the Chancellor Rachel Reeves per her own fiscal rules, there are fears that UK debt will follow US debt and be downgraded. Commenting on market movements, Susannah Streeter, Head of Money and Markets, Hargreaves Lansdown, said: “Gilt yields on longer-dated UK bonds have been climbing this year. This owes an enormous amount to movements in the US, thanks to nervousness over Pr…
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