Spectator (UK)

Brits seem curiously untroubled by Labour’s Budget – at least for now

Guardian

Rachel Reeves expected to extend ‘stealth’ freeze on income tax thresholds

Bank of England

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Office for Budget Responsibility


Centre for Economics and Business Research

Andrew Bailey

National Institute of Economic and Social Research

Dave Ramsden

ING Bank

Citigroup

Pantheon Macroeconomics

Sanjay Raja

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Rishi Sunak

Keir Starmer

YouGov

John Curtice

Rhun ap Iorwerth

Mel Stride

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Suella Braverman

The Economist

Luke Tryl

David Wallace-Wells

Ed Balls

John Rentoul

Humza Yousaf

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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

The UK's budget occurs once a year or after a change in government, intended to lay out government plans on taxes and other economic policy decisions. Paragraph 9.1 of the ministerial code states that "the most important announcements of Government policy" should "in the first instance" be made in Parliament.

GOV.UK

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

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

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

The Controversies

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