Rachel Reeves' Fiscal Forecast: Looming Changes on the Horizon

British finance minister Rachel Reeves plans to assess potential fiscal changes in March after stressing the importance of prudent timing. She hinges adjustments on an upcoming independent forecast, aiming to maintain market stability amid spending cuts and regulatory reforms. Reeves emphasizes balancing spending with growing revenues.

British finance minister Rachel Reeves has disclosed plans to announce fiscal changes in March if required, emphasizing careful timing with two months still to go. Addressing Reuters, Reeves confirmed that any potential adjustments would follow the independent Office of Budget Responsibility's forecast, set to be released March 26.

Reeves pointed out the media's speculations about her possibly opting for spending cuts over tax hikes after announcing increased social security contributions last year. Economic indicators since her October budget have partly turned against her, suggesting the need for further measures to align with fiscal rules.

Reeves also highlighted the importance of regulators prioritizing economic growth, altering the leadership at the competition watchdog, and announcing plans to expedite infrastructure development by reducing legal challenges and nature conservation delays.

(With inputs from agencies.)