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MNI BRIEF: No New UK Fiscal Rules From Chancellor Sunak

(MNI) LONDON
LONDON (MNI)

UK Chancellor of the Exchequer Rishi Sunak shied away announcing any new fiscal goals or laying out a new fiscal framework to sit alongside the raft of spending plans and the Office for Budget Responsibility projections unveiled Wednesday, as forecast by MNI. He said that the OBR's forecasts showed that current public sector borrowing was clearly not sustainable but he did not set out his longer term fiscal goals. The OBR expects long-term scarring to the UK economy with the economy still 3% smaller in 2025 than in the March Budget, with the jobless rate peaking at 7.5%.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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