UK Treasury working on scope for extra borrowing, The Times says

Labour set to exploit fiscal rules in order to increase borrowing by £9bn extra per year in effort to kickstart economy

Labour is set to exploit the UK's fiscal rules in order to increase borrowing by £9billion extra per year in an effort to kickstart the economy.Although Whitehall borrowed £129billion in the year ending March 2026, the new Chancellor John Healey is attempting to relax the rules and bump that figure to £138billion to create "growth in every postcode".Upon entering No10, Andy Burnham announced he was eyeing up some "flexibility" in the fiscal rule…

What the New UK Chancellor Means for the UK Economy

By MOHAMED A. EL-ERIAN (*) By appointing John Healey as chancellor of the exchequer, British Prime Minister Andy Burnham has taken a calculated risk. If Healey can leverage his insider knowledge of the Treasury, pursue a bold, pro-growth agenda, and manage his defense-spending instincts, he may be able to provide the structural shake-up the UK economy needs.

UK Treasury working on scope for extra borrowing, The Times says

Officials at Britain's Treasury are looking at possibly raising billions of pounds in extra borrowing by using flexibility within the government's ​fiscal rules, The Times said.

New Chancellor told he must help first-time buyers

Rachel Springall, of Moneyfacts, warns that first-time buyers need help amid tax speculation ahead of the Budget.