Warm welcome Washington visit gives the chancellor a boost ahead of budget
The Guardian|October 26, 2024
Speaking in Washington on Tuesday, the chief economist of the International Monetary Fund suggested he was relaxed about higher debt levels to fund public investment.
Phillip Inman
Warm welcome Washington visit gives the chancellor a boost ahead of budget

He made the comment in answer to a question about the UK at the annual meetings of the IMF and World Bank, but it felt like a highly choreographed piece of theatre.

Rachel Reeves was due to arrive at the meetings in the US capital shortly afterwards and the IMF was aware that the chancellor was going to announce a significant overhaul of Britain's budget rules to allow more investment by the state.

In one session after another, IMF senior officials repeated the same message - the Washington-based organisation was a great believer in the power of public investment to drive growth.

There was also a sizeable upgrade to Britain's growth rate this year, giving the sense of an economy bouncing back after some difficult years.

It seemed like a landing strip was being prepared for Reeves in Washington to explain how her plans would further boost growth and improve living standards.

A backdrop of a balmy US capital bathed in autumnal sunshine, provided an opportunity for the chancellor to relax away from Westminster after a difficult first 100 days of a Labour government and with less than a week to go before she presents her first budget.

Reeves said there would be new rules in her budget on Wednesday governing Treasury borrowing, allowing debt levels to increase - experts say by up to £50bn - to facilitate investment in Britain's crumbling infrastructure.

Denne historien er fra October 26, 2024-utgaven av The Guardian.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra October 26, 2024-utgaven av The Guardian.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA THE GUARDIANSe alt
Money hacks How to save on winter sports holidays
The Guardian

Money hacks How to save on winter sports holidays

When it comes to skiing and snowboarding, going to Europe will always be cheaper than flying to somewhere such as the US or Canada - but costs vary massively on the continent.

time-read
4 mins  |
November 23, 2024
Scam refund claims
The Guardian

Scam refund claims

Some victims of bank transfer scams will not get a penny back despite beefed-up rules designed to better protect consumers from fraudsters because several big banks have introduced an excess on refund claims.

time-read
1 min  |
November 23, 2024
Packaged accounts Are the perks worth the money?
The Guardian

Packaged accounts Are the perks worth the money?

For a monthly fee, banks offer everyday banking with all kinds of enticing extras. Laura Whateley examines how the 'freebies' stack up

time-read
6 mins  |
November 23, 2024
Spain floods force firms to look south for oranges
The Guardian

Spain floods force firms to look south for oranges

Some British retailers and wholesalers have been forced to switch to sourcing oranges from South Africa and South America earlier than usual after last month's floods in eastern Spain left farmers struggling to harvest and ship their crops.

time-read
2 mins  |
November 23, 2024
Northvolt boss resigns after EV battery firm files for bankruptcy
The Guardian

Northvolt boss resigns after EV battery firm files for bankruptcy

The chief executive of Northvolt has resigned after the Swedish battery startup filed for bankruptcy protection in the US.

time-read
2 mins  |
November 23, 2024
Electric dream sours Carmakers fight strict EV rules as fines loom
The Guardian

Electric dream sours Carmakers fight strict EV rules as fines loom

When Ford announced this week that it was cutting 800 jobs in the UK, the US carmaker had stern words for the government.

time-read
2 mins  |
November 23, 2024
The Guardian

Irish tycoon bids to buy out Yorkshire Post owner

National World, the owner of the Scotsman and Yorkshire Post - and underbidder in the auction for the Telegraph - has received a buyout proposal from largest shareholder.

time-read
1 min  |
November 23, 2024
Bitcoin rises after US SEC chair says he will step down
The Guardian

Bitcoin rises after US SEC chair says he will step down

Cryptocurrencies rose sharply immediately after one of the industry's biggest critics, Gary Gensler, said he would stand down as the head of the US financial regulator when president-elect Donald Trump was inaugurated in January.

time-read
1 min  |
November 23, 2024
Feeling the strain Rising bills and Trump policies to add to pressure on households
The Guardian

Feeling the strain Rising bills and Trump policies to add to pressure on households

Labour swept to power in the wake of a punishing cost of living crisis that hit households hard, with the price of food and energy rocketing, alongside the impact on mortgage rates of Liz Truss's disastrous mini-budget.

time-read
4 mins  |
November 23, 2024
Budget blamed for end to 12 months of expansion as optimism slumps
The Guardian

Budget blamed for end to 12 months of expansion as optimism slumps

Labour's first budget in 14 years has been given the \"thumbs down\" by private sector businesses, with Rachel Reeves's measures blamed for the end to a 12-month run of expansion and a fall in retail sales.

time-read
2 mins  |
November 23, 2024