U.K. Finance Minister Rachel Reeves has reaffirmed her commitment to maintaining the government’s self-imposed fiscal rules, emphasizing the importance of honesty and transparency in addressing the economic challenges facing the nation.

Speaking to CNBC’s Karen Tso during the International Monetary Fund’s (IMF) Annual Meeting in Washington, D.C., on Friday, Reeves acknowledged that the United Kingdom is navigating through a complex economic landscape. She pointed to several key global factors contributing to the strain, including the ongoing Russia-Ukraine conflict, escalating tensions in the Middle East, and the persistent effects of global trade barriers.

“The key thing for me is that as Chancellor, I’m determined to be honest with people about the challenges that we face,” Reeves said. “I will respond to those at the budget.”

Reeves is scheduled to present her second Autumn Budget on November 26, outlining the government’s economic strategy for the months ahead. The forthcoming budget is expected to tackle pressing issues such as sluggish economic growth, stubborn inflation, and rising government borrowing costs — all of which continue to weigh heavily on the British economy.

As the country struggles to find a balance between fiscal responsibility and necessary public investment, Reeves’ approach suggests a pragmatic stance: upholding fiscal discipline while recognizing the need for realistic, transparent policymaking. Her upcoming budget will likely be a key test of how effectively the government can steer the U.K. through its current financial turbulence while maintaining public trust.