Rachel Reeves warned ‘dysfunctional’ fiscal rules are hammering economy

cityam

Feb 19

Reeves' fiscal rules are coming under threat. (Image: PA) Rachel Reeves has been dealt a scathing assessment of her economic policy by a top think tank, which likened her approach to a driver who was ...

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(Image: PA) Rachel Reeves has been dealt a scathing assessment of her economic policy by a top think tank, which likened her approach to a driver who was ...</p>\n\n<a href=\"https://www.cityam.com/rachel-reeves-warned-dysfunctional-fiscal-rules-are-hammering-economy/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rachel Reeves warned ‘dysfunctional’ fiscal rules are hammering economy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRachel Reeves warned ‘dysfunctional’ fiscal rules are hammering economy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-19 16:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/rachel-reeves-warned-dysfunctional-fiscal-rules-are-hammering-economy/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Reeves' fiscal rules are coming under threat. (Image: PA) Rachel Reeves has been dealt a scathing assessment of her economic policy by a top think tank, which likened her approach to a driver who was ...</p>\n\n<a href=\"https://www.cityam.com/rachel-reeves-warned-dysfunctional-fiscal-rules-are-hammering-economy/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0300738514.USD","symbol_name":"TEMPLETON EMERG MKTS SMALLER CO \"A\"(USD) ACC","start_time":0,"source_url":"https://www.cityam.com/rachel-reeves-warned-dysfunctional-fiscal-rules-are-hammering-economy/","article_id":"2612403535","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/02/01KCP9KRTG9930FQ6SQ1BG5CYX.jpeg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/rachel-reeves-warned-dysfunctional-fiscal-rules-are-hammering-economy/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2612403535","pubTimestamp":1771489456,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Reeves' fiscal rules are coming under threat.  Rachel Reeves has been dealt a scathing assessment of her economic policy by a top think tank, which likened her approach to a driver who was “watching the speedometer” while ignoring other conditions.The Chancellor is facing calls to scrap the self-imposed fiscal rules that prevent her from borrowing to pay for day-to-day spending and require debt to fall as a percentage of GDP by 2029/30.Economists at the Institute for Fiscal Studies  said the focus on ‘fiscal headroom’, the margin by which the government meets the rules based on forecasts, leads to “spurious” policy change, which ramps up volatility.“This framework is achieving neither sustainable public finances nor credibility with financial markets,” Ben Zaranko, economist at the IFS, wrote.Reeves’ fiscal rules ‘do not ensure sustainable public finances’The IFS said the “current equilibrium is producing such dysfunction that the time has come” to try something new.It called for a rad","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0300738514.USD":"TEMPLETON EMERG MKTS SMALLER CO \"A\"(USD) ACC","LU0300738605.USD":"TEMPLETON EMERG MKTS SMALLER CO \"A\" INC","LU0029865408.USD":"TEMPLETON LATIN AMERICA \"A\" INC","LU0320763518.SGD":"FTIF - Templeton Latin America A Acc SGD","BK4207":"综合性银行","IFS":"Intercorp Financial Services Inc.","LU0128526570.USD":"TEMPLETON LATIN AMERICA \"A\" ACC"},"translate_title":"蕾切尔·里夫斯警告“功能失调”的财政规则正在打击经济","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IFS":1},"content_text":"Reeves' fiscal rules are coming under threat. (Image: PA) Rachel Reeves has been dealt a scathing assessment of her economic policy by a top think tank, which likened her approach to a driver who was “watching the speedometer” while ignoring other conditions.The Chancellor is facing calls to scrap the self-imposed fiscal rules that prevent her from borrowing to pay for day-to-day spending and require debt to fall as a percentage of GDP by 2029/30.Economists at the Institute for Fiscal Studies (IFS) said the focus on ‘fiscal headroom’, the margin by which the government meets the rules based on forecasts, leads to “spurious” policy change, which ramps up volatility.“This framework is achieving neither sustainable public finances nor credibility with financial markets,” Ben Zaranko, economist at the IFS, wrote.\n\n“The central contention of this report is that the UK fiscal framework has some desirable features but is not delivering good outcomes. We are in a bad equilibrium.”\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nZaranko drew the comparison to a driver and warned: “You cannot assess whether you are driving safely solely by looking at the speedometer: you also need to worry about traffic conditions, the state of the roads, the condition of the car, the weather, and much else.”The report comes weeks ahead of the Chancellor delivering her Spring Statement, where reports suggest Reeves will attempt to use the event to drive Labour’s pledge of only one fiscal event per year.The Treasury is aiming for the event to restore confidence through delivering no drastic policy or spending changes, the Telegraph has reported.\n\nReeves’ fiscal rules ‘do not ensure sustainable public finances’The IFS said the “current equilibrium is producing such dysfunction that the time has come” to try something new.It called for a radical reform of the post-2029 Parliament, in which the Chancellor delivers a high-profile speech outlining broad fiscal objectives in narrative terms rather than in fixed terms.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}