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Sunak to set out new fiscal rules to control UK borrowing -FT

Sunak to set out new fiscal rules to control UK borrowing -FT 1

(Reuters) – British finance minister Rishi Sunak is planning to set out new rules that will commit him to stop borrowing to fund day-to-day spending within three years, the Financial Times reported on Thursday, citing people briefed on his thinking.

Sunak’s fiscal rules will also require underlying debt to start falling by 2024-25, with it currently standing at about 100% of gross domestic product, the report said.

(Reporting by Vishal Vivek in Bengaluru, Editing by Rosalba O’Brien)

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