By Ali Lyon Mervyn King has warned Rachel Reeves against altering how the government defines its debt in the upcoming Budget, and called for the fiscal rules to be assessed by parliamentary term. Speaking to the BBC on Sunday morning the former governor of the Bank of England said that the way the government polices borrowing invariably leads to “half measures” that don’t result in “dramatic change”. Asked whether he felt Reeves was likely to tweak the fiscal rules to free up money to spend on capital investment, Lord King said: “I think there’s bound to be some change… I think the mistake wou…