Badenoch to set out new rule to cut borrowing and taxes

In a speech at the Conservative party conference, Kemi Badenoch, the Chancellor of the Exchequer, is set to outline a new rule aimed at reducing government borrowing and cutting taxes. Badenoch will argue that the Conservatives are the only party with a comprehensive plan to revive the UK's economy, which has been grappling with high inflation and economic uncertainty. The proposed rule will likely focus on limiting the government's ability to borrow, with the goal of bringing down the national debt over the medium term. This could involve setting specific targets for reducing the budget deficit and implementing spending controls. Additionally, Badenoch is expected to reaffirm the party's commitment to lowering taxes, though the specifics of any tax cuts remain unclear. The announcement comes amidst ongoing debates within the Conservative party and the broader UK political landscape about the best approach to address the country's economic challenges. The success of Badenoch's plan will depend on its implementation and the ability to balance fiscal discipline with measures to stimulate growth and support businesses and households.