Labour's new fiscal rules should lead to mega investment in Britain

The Chancellor's eyeing up changing the financial rules of play for the government. Economist Phil Tomlinson breaks down what it means and how it could boost the country's future.

After weeks of speculation, the Chancellor, Rachel Reeves, has finally confirmed there will be changes to the Treasury’s “fiscal rules” in the budget to facilitate new public investment.

The changes to the fiscal rules relate to the way that public debt is calculated. Currently, the fiscal rules use public sector net debt, which measures the total amount…