Is the chancellor likely to tweak her fiscal rules again?

Just days after the chancellor's spring statement balancing act saw her squeak back into line with her fiscal rules, Donald Trump took a bazooka to the global economic order on which the constraints are based.

- ARCHIE MITCHELL

Rachel Reeves had boosted economic growth here, cut spending there, and forecasts from the Office for Budget Responsibility (OBR) placed her back on course to comply with her selfimposed targets. But the official spending watchdog had already warned that a trade war sparked by the US president would knock her back off track, and discussions are already underway about how Reeves can make the sums work in time for a full-fat Budget this autumn.

What are the fiscal rules?

The chancellor’s fiscal rules dictate that she cannot borrow to fund day-to-day spending, and that debt must be falling as a share of national income by the end of a five-year forecast period. They are in place to instil confidence in the markets that ministers are firmly in control of the public finances – and that Britain will be able to comfortably pay its debts.

Can the chancellor change or scrap them?