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Chancellor Rishi Sunak is planning to use next month’s Budget to introduce new rules to rein in government borrowing, according to the Financial Times. The paper says it comes amid Treasury fears that any rise in interest rates could blow a hole in the heavily-indebted public finances. Mr Sunak’s new rules will commit him to stop borrowing to fund day-to-day spending within three years.

Financial Times Front Page 22nd of October 2021

The Financial Times leads with a warning from the Bank of England’s new chief economist that inflation is likely to rise “close to or even slightly above five percent” early next year, which comes ahead of a decision on whether to raise interest rates.

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