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Is Rachel Reeves trapped by her fiscal rules?
This week Rachel Reeves announces more spending cuts in order to meet her fiscal rules, and the OBR’s verdict on her ‘fiscal headroom’. But what was the original purpose of ‘the fiscal rules’ and has Reeves learned the lessons from past Labour chancellors? Some context in a week that could doom a landslide government to being trapped rather than liberated by a chancellor’s ‘ironclad’ rules.
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The skinny
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