ChainCatcher news, before the new Chancellor of the Exchequer, Reeves, delivers his first speech in Parliament, Neil Shearing, Chief Economist at Capital Economics, stated that the UK's fiscal rules are arbitrary and unhelpful, but the new government seems unlikely to make changes. Reeves has committed to continuing the fiscal rules left by the previous government, which stipulate that the ratio of national debt to GDP must decline in a certain forecast year, a practice deemed "madness." This is because such forecasts are unreliable and can tie the government's hands. However, Reeves could push for a modification of the definition of national debt, which could free up some fiscal space without significantly increasing taxes. (Jin Shi)