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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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The UK Chancellor of the Exchequer is considering reforms to the budget system aimed at stabilizing fiscal policy.
Gate News bot message, UK Chancellor of the Exchequer Reeves is studying reforms to the budget system to address investors' concerns about the Fluctuation of UK economic policies. According to the Financial Times, the aim of the reforms is to avoid a sudden spring fiscal patch.
Reeves is considering adopting the International Monetary Fund's suggestion to "reduce the pressure of frequently adjusting fiscal policies." She reiterated her commitment to holding only one fiscal press conference each year. The International Monetary Fund suggested that the UK should not take corrective measures between two budgets when fiscal rules slightly deviate, and recommended that compliance with fiscal rules be assessed only once a year.
A City of London financier stated that in an era of high global economic instability, oscillating between predictions every six months is not a viable method for fiscal policy formulation. He believes that the bond market would welcome such reforms.