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With a general election coming in the next year, Downing Street continues to make a virtue out of its supposed fiscal discipline, foregoing – seemingly deliberately – anything that might be deemed fiscally reckless or otherwise unaffordable vote-buying.
NEW YORK (Reuters) -Brazil's central bank chief Roberto Campos Neto on Thursday said any change to the country's fiscal target would raise concerns, following comments by President Luiz Inacio Lula da Silva casting doubt on the government's vow to erase a budget deficit. Campos Neto told the Reuters NEXT conference in New York that "there is a lot of uncertainty on whether Brazil is going to be able to actually have a sustainable fiscal path," adding that it pushes up risk premiums and affects monetary policy. "The only reason why the central bank worries about ...
Italian Prime Minister Giorgia Meloni on Wednesday called on the European Union to focus more on growth than on stability in drafting its new fiscal rules, saying investments in defence and aid to Ukraine should be stripped from deficit calculations. The EU's fiscal rules, suspended since 2020 due to the COVID-19 pandemic, are due to return next year with amendments now being negotiated by governments, and Italy is proposing ways to make them as lenient as possible. "The new rules must definitely aim at a reduction of public debt, but in a gradual and sustainable manner, because on...
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