Sunak to set new fiscal rules to control UK borrowing -FT By Reuters


© Reuters. British Chancellor of the Exchequer Rishi Sunak arrives at The Sun’s Who Cares Wins Awards in London, Britain September 14, 2021. REUTERS / May James

(Reuters) – UK Finance Minister Rishi Sunak plans to establish new rules that will require him to stop borrowing to finance his current spending within three years, the Financial Times reported Thursday, citing people informed of its reflection.

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

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