UK Budget: Ensuring Fiscal Discipline
At today’s press conference, UK Chancellor Rachel Reeves unveiled the UK budget, accompanied by the Office for Budget Responsibility's publication of its Economic and Fiscal Outlook for the five-year period leading up to 2030-31. In the central forecast, the government's fiscal mandate aims to achieve a balanced current budget by 2029-30, with a larger fiscal margin of £22 billion compared to earlier figures reported in March. While assuring investors of fiscal credibility and a commitment to remaining on target, the government's policies may inadvertently introduce distortions in the privat...