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Reeves 'must get balance right' on debt rules, says NatWest CEO
The Guardian
|October 26, 2024
Rachel Reeves must "get the balance right" when announcing changes to Britain's debt rules next week, given the potential knock-on effects to borrowing and mortgage rates, the boss of NatWest has warned.
The bank's chief executive, Paul Thwaite, said markets would be sensitive to the chancellor's reasons for releasing up to £50bn of borrowing headroom in her maiden budget next Wednesday after she said she was planning to rewrite her fiscal rules.
Thwaite said it was not a surprise that the Labour government was seeking to change the way public debt is measured in order to boost its spending power. He noted that Britain had had "many different fiscal frameworks in recent years".
This story is from the October 26, 2024 edition of The Guardian.
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