This is the final instalment of a short series previewing the Budget. It discusses how the statement might be received and what could - or should - be done differently. The first instalment began with a primer on the fiscal framework and a guesstimate of the size of the new financial hole, which could be as large … Continue reading Will Rachel Reeves’ second Budget land any better than her first?
Tag: news
How might the Chancellor fill a £30 billion hole?
My previous blog post showed that, based on some reasonable assumptions, the Chancellor could have to find another £30 billion from tax increases. It is hard to see how this can be done without touching the big revenue raisers – namely income tax, National Insurance (again), and VAT. Indeed, earlier this month the Chancellor reportedly asked the … Continue reading How might the Chancellor fill a £30 billion hole?
The Chancellor is set to raise taxes again – by as much as £30 billion
It has felt like an eternity, but Chancellor Rachel Reeves will finally unveil her second Autumn Budget on Wednesday 26 November. This blog begins with an explanation of how the Budget process works, then attempts to estimate the size of the new financial hole. The next instalment will look at how she is likely to … Continue reading The Chancellor is set to raise taxes again – by as much as £30 billion
This is no way to run a Budget!
The joint team from No.10 and the Treasury working to prepare the Budget has apparently decided to junk the plan to raise the basic and higher rates of income tax. The official line is that this is not a “U-turn” because this plan was just media speculation and never official policy. Pull the other one. The speculation … Continue reading This is no way to run a Budget!
Plain-speaking Economics 