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We will adhere to the financial rules despite global turbulence

The secretary of the British treasure Rachel Reeves declared on Sunday that the British government will join its financial bases despite the global turbulence, which increases the possibility of adopting measures to strengthen the belt to achieve its objectives for public finance in the modernization of the budget this week.

In his first complete budget of last October, Reeves tried to obtain the trust of investors by committing himself to reaching a balance between daily expenses and tax revenues by the end of the contract. But it is believed that it has gone out of its path due to the slowdown of economic growth and high loan costs. The possible global commercial war collected by the customs duties imposed by the President of the United States Donald Trump on imports have reduced international expectations.

“The world has changed,” said Reeves. We can all see it before our eyes and governments are not ineffective. We will respond to change and continue to join our financial rules.

On Friday, British debt costs jumped after borrowing higher numbers than expected, which showed concerns to investors for the ability of the government of Prime Minister Kiir Starmer to reform public finances in light of the slowing down of the economy.

Last week, the government announced discounts for shopping for social well -being to provide about 5 billion pounds ($ 6.5 billion) per year, which made some legislators angry in the “workers” party to whom Starmer belongs to the left.

Reeves is expected to announce more measures in the “Spring Declaration” to recover 10 billion pounds from the maneuvering area to achieve its financial objectives.

In response to a “Sky News” channel question about potential spending discounts, Reeves said that public spending should still exceed inflation every year of the current Parliament. “But as a government, we have to decide where that money is spent and we want to spend it for our priorities.”

The government has increased defense spending in response to Trump calls to Europe to make greater efforts to protect its safety. Further increases must be made in the coming years.

Reeves said that 10,000 jobs in the public sector can be canceled based on a new plan to reduce the costs of the civil service by the end of the decade and to provide more than two billion pounds ($ 2.58 billion) per year, adding that it is not correct to maintain the work increases during the Kofid -19.

More than 500,000 people work in the civil service and with the possibility of reducing the forecasts on the economic growth of Wednesday, Great Britain hopes to avoid customs rates on imports taught by the Trump Administration.

“President Trump is worried about a right to countries that have great and continuous commercial surpluses with the United States and the United Kingdom is not one of these countries,” Reeves told BBC Sunday.

In response to a question about the fact that Great Britain can offer to end the tax on digital services that requires large technological companies such as “Google” and “Facebook” to earn Washington’s support for digital services, Reeves said that the interviews are underway.

He added: “We are currently discussing a complete series of customs duties with the United States, but we will continue to work on this principle, which says that you have to pay taxes in the country in which you work”.

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