Kwasi Kwarteng claims his fiscal rules will reduce UK debt

Kwasi Kwarteng has vowed a plan on the Government’s longer-term financial plans which he is due to reveal in November will reduce UK debt.

The Chancellor described the rules as ‘so important’ and said the statement will contain a ‘commitment to spending discipline’

The Chancellor said the fiscal rules, which will include details on the new approach to borrowing, will be credible, convince the markets and bring public spending under control., claiming despite some measures not being universally popular, the Government had “no other choice”.

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