Fiscal rules and frameworks

Rising interest rates could put the government on track to miss its fiscal rules. What are the Chancellor’s options? 

If a recent rise in borrowing costs proved persistent, it will make it even harder for the Chancellor to continue to meet her main fiscal rule. 

The UK Budget has improved the Scottish funding outlook, but tough choices loom down the line 

IFS Director Paul Johnson responds to the overall picture for taxation, spending and the public finances in the Autumn 2024 Budget.

The Chancellor has chosen to borrow for a large top-up to day-to-day spending in the near term, but spending plans are set to tighten after.

On the new measure (PSNFL) debt is set to fall from 2027-28, but only just, rather than more decisively as under the previous forecast.

We explore the options the Chancellor has in the forthcoming Budget.

The new Chancellor faces a difficult fiscal inheritance. Her choices on tax and spending at this first Budget could define the rest of the parliament.

We describe the fiscal outlook and set out the unenviable but important choices – which could define the parliament – confronting Rachel Reeves.

The government is reportedly considering a change to the debt rule to allow for more borrowing for investment. We consider some of the options.

"Frankly, nobody comes out of this smelling of roses". Paul Johnson writes for the Times.

IFS Director Paul Johnson responds to the Conservative manifesto.