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UK finance minister restores 9.9 billion pound fiscal buffer
Published by Global Banking & Finance Review®
Posted on March 26, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 26, 2025
1 min readLast updated: January 24, 2026
Rachel Reeves restores a £9.9 billion fiscal buffer to address economic challenges, aiming for balanced public spending by 2030.
LONDON (Reuters) - British finance minister Rachel Reeves said on Wednesday that she had rebuilt a 9.9 billion pound ($12.8 billion) fiscal buffer that was wiped out by weaker economic forecasts and rising borrowing costs since her first full budget last year.
The public finances have been strained by slow economic growth and higher-than-expected borrowing costs in financial markets driven largely by the policies of U.S. President Donald Trump.
Without measures taken by the government, Reeves said the government would have faced a deficit of 4.1 billion pounds.
Reeves is aiming to balance day-to-day public spending with tax revenues by 2030.
($1 = 0.7755 pounds)
(Reporting by David Milliken and Sachin Ravikumar, writing by Andrew MacAskill; Editing by Hugh Lawson)
The main topic is UK finance minister Rachel Reeves restoring a £9.9 billion fiscal buffer to address economic challenges.
US policies, particularly those of President Trump, have driven up borrowing costs in financial markets, impacting UK finances.
Rachel Reeves aims to balance day-to-day public spending with tax revenues by 2030.
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