Tag: public debt

The Chancellor’s gaslighting has reached new lows

When in opposition, Rachel Reeves claimed that “the Conservatives are gaslighting the British public". When she became Chancellor, she insisted that she would not “gaslight” working people herself. This can surely now be added to the long list of broken promises. The prolonged uncertainty ahead of the Budget had already harmed the economy. But confirmation … Continue reading The Chancellor’s gaslighting has reached new lows →

Will Rachel Reeves’ second Budget land any better than her first?

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? →

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? →