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International Business Times
International Business Times
World
AFP News

UK Govt Changes Budget Rules To Borrow More For Investment

Rachel Reeves United Kingdom Economy
UK finance minister Rachel Reeves is preparing to deliver her first budget next week (Credit: AFP)

UK finance minister Rachel Reeves announced Thursday changes to fiscal rules to open up billions for investment in the centre-left government's maiden budget, but warned of tax rises and spending cuts.

The highly-anticipated October 30 budget will be the first under Labour after 14 years of right-wing Conservative rule, with Prime Minister Keir Starmer already warning of "painful" decisions.

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