Rachel Reevesโs fiscal rules buffer should be โsignificantly largerโ, say peers
28 April 2026 at 04:00
Lord committee says chancellor and recent predecessors have allowed themselves too little room for manoeuvre
Rachel Reeves should aim to run a โsignificantly largerโ buffer against her fiscal rules, according to a report from a House of Lords committee that says the UKโs public debt is on an unsustainable trajectory.
The chancellor raised taxes at last yearโs budget in order to more than double the โheadroomโ, or buffer, against her fiscal rules to ยฃ22bn โ some of which is expected to be eroded by the impact of the Iran war.
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ยฉ Photograph: Sean Smith/The Guardian

ยฉ Photograph: Sean Smith/The Guardian

ยฉ Photograph: Sean Smith/The Guardian