Britain's government will enact tough rules on government spending and strengthen the role of the official budget watchdog in its legislative agenda this week, the new Labour government said on Sunday.

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"To ensure nobody can play fast and loose with the public finances ever again, this new bill will strengthen the role of the Office of Budget Responsibility, meaning significant fiscal announcements must be properly scrutinized and that taxpayers’ money is respected," the government said in a statement.

The agenda is aimed at raising Britain's rate of economic growth and will be presented by King Charles at the state opening of parliament on Wednesday.