Story perspectives

Pressure Mounts on Chancellor Reeves for Fiscal Reform

3/2/2026

Summary

Story summary

Rachel Reeves, the UK Chancellor of the Exchequer, faces pressure to reform the Office for Budget Responsibility to enable more public investment.
A coalition of thinktanks, including Progress and the New Economics Foundation, says the current framework hinders long-term planning and investment.
Despite economic improvements, gilt-market volatility looms if Reeves adopts a more aggressive fiscal stance, even as she aims to address rising youth unemployment in a spring forecast.

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Story summary

Rachel Reeves, the UK Chancellor of the Exchequer, faces pressure to reform the Office for Budget Responsibility to enable more public investment.
A coalition of thinktanks, including Progress and the New Economics Foundation, says the current framework hinders long-term planning and investment.
Despite economic improvements, gilt-market volatility looms if Reeves adopts a more aggressive fiscal stance, even as she aims to address rising youth unemployment in a spring forecast.