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The Guardian - UK
The Guardian - UK
National
Richard Partington Economics correspondent

Treasury installs ‘guard rails’ to avoid Liz Truss-style budget meltdown

Rachel Reeves Darren Jones Liz Truss City
building of a railway viaduct for the HS2 rail line: girders and cranes
The chancellor is said to be seeking billions in additional borrowing to finance major public works including roads and railways. Photograph: Maureen McLean/Rex/Shutterstock

Rachel Reeves, the chancellor, is taking action to ensure her budget plan for a multibillion-pound increase in government borrowing to fund infrastructure projects avoids a Liz Truss-style meltdown in financial markets.

Ahead of her tax and spending event on 30 October, the chancellor is convening on Friday the first meeting of a taskforce of leading City figures to advise on infrastructure projects. The government will also launch a watchdog to oversee public works and ensure value for money for the taxpayer.

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