CoinVoice has recently learned from a report by the Financial Times, as cited by Jinshi, that amid growing concerns among investors about the volatility of UK economic policies, Chancellor Reeves is studying reforms to its budgetary system to avoid a sudden spring fiscal patch plan again.
According to informed sources, Reeves is considering the reform proposals put forward by the International Monetary Fund, which aim to 'reduce the pressure of frequently adjusting fiscal policies.' At the same time, she reiterated her commitment to holding only one fiscal press conference each year. The International Monetary Fund suggested reforms for the UK in May this year to ensure that minor deviations from fiscal rules do not require 'corrective fiscal measures' to be taken between two budgets. The organization also indicated that the UK could consider assessing compliance with fiscal rules only once a year, rather than the current twice a year.
A person from the City of London stated: 'This is something the Treasury is considering - it has to be done. Constantly swinging between forecasts every six months is simply not a feasible way to formulate fiscal policy in this era of high global economic instability. The bond market would not only be opposed to this, but would actually welcome such reforms.' [Original link]