Rachel Reeves will rewrite the government's rules surrounding borrowing in next week's budget to allow her to increase public investment by around £50bn.
The Chancellor told ITV: “Our second rule, our investment rule, will change the way in which we measure government debt so we take into account our assets not just the costs of investment.” The Chancellor told Sky News: “We will measure debt differently but of course we’ll put guardrails in place to ensure that every pound of taxpayers’ money spent is spent wisely, and we’ll involve the National Audit Office and the Office for Budget Responsibility in that.”
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