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

© Reuters. Britain’s 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) – 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.

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