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House of Commons Speaker Sir Lindsay Hoyle has criticized Chancellor of the Exchequer Rachel Reeves for publicly disclosing details of the budget prior to its official announcement in Parliament on Wednesday.

BBC News

Speaking in the Commons on Monday, Hoyle stated that important government policy decisions should be first announced in Parliament, receiving "proper, sustained scrutiny" from elected politicians rather than "American news channels." Hoyle claimed Reeves's behavior was "a supreme discourtesy," and stated that he was "very disappointed."

Parliament

Attending an International Monetary Fund (IMF) summit in Washington, D.C., last week, Reeves told reporters she would be "changing the way that we measure debt" whilst writing within the Financial Times that her new rule would "make space for increased investment."

www.ft.com

Reuters

Fiscal rules are self-imposed Government constraints to public finances, which under the Conservatives meant borrowing could not exceed 3% of gross domestic product (GDP) and must fall as a % of GDP in the fifth year of a forecast period. Labour's 2024 manifesto included commitments to changing the fiscal rules.

Current fiscal rules are measured using public sector net debt. Alternative means to measure to debt include public sector net financial liabilities (PSNL), which reclassifies government debts such as pension schemes and student loans as assets, or by excluding Bank of England (BoE) quantitative easing (QE) bond-buying.

Sky News

UK: House of Commons Speaker Criticizes Chancellor Reeves for Budget Disclosures

UK: House of Commons Speaker Criticizes Chancellor Reeves for Budget Disclosures

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UK: House of Commons Speaker Criticizes Chancellor Reeves for Budget Disclosures

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