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    Home > Headlines > UK's Reeves says she still intends to keep fiscal rules for whole parliamentary term
    Headlines

    UK's Reeves says she still intends to keep fiscal rules for whole parliamentary term

    Published by Global Banking & Finance Review®

    Posted on April 9, 2025

    2 min read

    Last updated: January 24, 2026

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    Quick Summary

    Rachel Reeves confirms UK's fiscal rules will remain unchanged until 2029, ensuring economic stability despite global challenges.

    Reeves Commits to UK Fiscal Rules for Full Parliamentary Term

    LONDON (Reuters) - British finance minister Rachel Reeves said on Wednesday she still intended to stick to her self-imposed fiscal rules until the end of the government's term of office in 2029, despite the current global economic turmoil.

    Asked by a reporter if the government's fiscal rules would remain unchanged for the whole parliament, Reeves replied: "Yes. Those fiscal rules ... are non-negotiable because they are the bedrock of the stability and security that families and businesses need."

    Under the rules she set out in October - which aim to balance day-to-day spending with tax revenue by 2029 - Reeves has the option to suspend them temporarily "in the event of an emergency or a significant economic shock to the UK".

    U.S. customs agents began collecting President Donald Trump's unilateral 10% tariffs on imports from many countries on Saturday, including Britain. Higher levies on goods from larger trading partners took effect earlier on Wednesday, including tariffs of more than 100% on U.S. imports from China.

    Reeves reiterated that Britain would continue to act in the its national interest while in ongoing discussions with the U.S. to strike a trade deal.

    "We don't want to see an escalation of tariffs," Reeves said. "We want to do a deal that supports the UK economy."

    (Reporting by Sachin Ravikumar; Writing by Catarina Demony; editing by David Milliken)

    Key Takeaways

    • •Rachel Reeves intends to maintain fiscal rules until 2029.
    • •Fiscal rules are crucial for economic stability and security.
    • •Rules may be suspended in case of an economic shock.
    • •UK is negotiating with the US to avoid tariff escalation.
    • •Reeves emphasizes acting in the UK's national interest.

    Frequently Asked Questions about UK's Reeves says she still intends to keep fiscal rules for whole parliamentary term

    1What is the main topic?

    The main topic is Rachel Reeves' commitment to maintaining the UK's fiscal rules until 2029.

    2What are the fiscal rules?

    The fiscal rules aim to balance day-to-day spending with tax revenue by 2029.

    3How does the UK plan to handle tariffs?

    The UK is in discussions with the US to prevent tariff escalation and support the economy.

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