According to the Guardian, the UK is likely to unfreeze borrowing by excluding BoE losses

Reeves will present Labor’s first budget since coming to power in a July election on October 30, promising to grow Britain’s economy faster through careful financial management and government spending on infrastructure that encourages more private sector investment.

The Guardian reported, citing unnamed Reeves allies, that when calculating the debt she would likely exclude losses incurred by the state from the Bank of England’s previous asset-buying programs.

Reeves would also rule out any additional borrowing to create new public institutions, the report said.

The Treasury Department did not immediately respond to a request for comment on the report.

($1 = 0.7634 pounds)

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