Page 3 - Fiscal Rules News Today

How EU states are still trapped in their self-devised austerity hairshirt.

The Conservatives are planning to use the Budget to wrongfoot Sir Keir Starmer on borrowing in an attempt to show that, under Labour, Britain would go further into debt.

(Bloomberg) -- Italy won’t need to change its budget plans for next year to meet the new European Union rules just agreed by the bloc, according to the country’s finance chief. Most Read from BloombergThe Late-Night Email to Tim Cook That Set the Apple Watch Saga in MotionChinese Carmaker Overtakes Tesla as World’s Most Popular EV MakerTesla Plans Revamp of Smash Hit Model Y From China PlantApple’s iPhone Design Chief Enlisted by Jony Ive, Sam Altman to Work on AI Dev...

European Union finance ministers agreed on Wednesday changes to the EU's fiscal rules updating them to the post-pandemic realities of high public debt and the need for massive public investment to fight climate change. On the basis of a debt sustainability analysis, the European Commission and the country concerned agree on a path for net primary expenditure for four years, to cut the debt and deficit to below the EU's limits of 3% and 60% of gross domestic product (GDP) respectively....

(Bloomberg) -- The finance ministers of the European Union’s two biggest economies said they are confident they will reach a deal on new fiscal rules with their counterparts from the bloc at a virtual meeting on Wednesday.Most Read from BloombergApple Races to Tweak Software Ahead of Looming US Watch BanApple to Halt US Sales of Smartwatches After Patent LossWhat If Putin Wins? US Allies Fear Defeat as Ukraine Aid StallsTrump Disqualified From 2024 Ballot in Colorado, Court SaysCiti Suit ...

ROME (Reuters) -Italy could use its veto to prevent the adoption of the European Union's new fiscal rules if the outcome of negotiations among partners does not meet its demands, Prime Minister Giorgia Meloni said on Wednesday. The bloc's Stability and Growth pact was suspended in 2020 due to COVID-19 and is due to return in an amended version next year, with Italy pushing to make it more lenient as opposed to demands from other members to enforce tough discipline. "I am not rul...

European Union finance ministers will discuss changes to the EU's fiscal rules on Thursday and Friday to reach a deal, or at least bring positions closer, on a reform that offers countries tailor-made debt reduction paths and incentives to invest. The EU has a common currency - the euro - and the European Central Bank takes responsibility for a common monetary policy, but the bloc has no common fiscal policy. The fiscal rules, which limit government borrowing, are to ensure governments ob...

Sir Keir Starmer has signalled that he may not meet a flagship pledge to invest £28 billion a year in green projects within his first five years in Number 10, should Labour win power at the next general election.

A country investing in cross-border EU defence projects should be given more time to cut its public debt under EU fiscal rules, the head of the European Commission said on Thursday. The fiscal rules are under revision and such a change would go beyond what has so far been agreed among governments, which only want to grant defence spending the status of a "relevant factor" when the Commission assesses whether a budget deficit is within EU limits. Commission President Ursula von der Le...

Jeremy Hunt, the Chancellor, doesn’t like to admit it, but today’s way above target inflation has for him proved a blessing in disguise, riding to his rescue in last week’s Autumn Statement by giving the Government scope both to cut National Insurance contributions and make big tax breaks for investment spending permanent.