Economists Urge Rachel Reeves to Ease Fiscal Rules or Raise Taxes Amid Spending Pressures
Economists Call for Tax Team Composition from Rachel Reeves in Light of Budgetary Deliberations
With spending demands rising ahead of her spring statement next year, top economists are calling on Chancellor Rachel Reeves to loosen her fiscal rules or raise taxes rather than slash spending on welfare.
Economic Prospects and Limits of Spending
The Office for Budget Responsibility, the government’s independent forecaster, is due to update its economic forecasts on 26 March, and they are likely to present a drearier picture for the UK economy. This downgrade could remove Reeves’s financial wiggle room to hit her fiscal goals.
The Chancellor says she will make up the shortfall with cuts to public spending, including welfare cuts, despite dissent inside Labour sources of Treasury...
