British Media: UK Chancellor Focuses on Reform Measures to Suppress Financial Volatility

According to sources cited by Jinshi, the Financial Times reported that amid growing concerns among investors about the volatility of UK economic policies, UK Chancellor Rishi Sunak is studying reforms to the budget system to avoid sudden spring fiscal patch-ups. Sources revealed that Sunak is considering reform proposals put forward by the International Monetary Fund aimed at 'reducing the pressure of frequent adjustments to fiscal policy.' At the same time, she reiterated the commitment to hold only one fiscal event per year. The IMF proposed reforms for the UK in May this year to ensure that corrective fiscal measures are not needed between two budgets when fiscal rules deviate slightly. The organization also suggested that the UK could consider assessing compliance with fiscal rules only once a year, rather than the current biannual evaluation. A London financial city insider stated: 'This is something the Treasury is considering - it must be done. Swinging back and forth every six months between forecasts is simply not a viable way to formulate fiscal policy in this highly unstable global economic era. The bond market will not only not oppose this, but will welcome such reforms.'

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