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The case for reforming the fiscal framework

This briefing outlines the economic and political case for reforming the fiscal framework and provides a summary of leading proposals, what they aim to improve, who is backing them and why bond investors would support them.

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The UK’s fiscal framework—how we plan and manage public finances—is outdated. It encourages short-term, reactive decisions driven by uncertain forecasts, and limits the government’s ability to invest for long-term growth and stability.

There is growing interest in reforming the UK’s fiscal framework to make it more flexible, investment-friendly, and better suited to today’s economic and geopolitical challenges.