If you believe that there is a £55 billion ‘black hole’ in the public finances, and if you believe this has to be filled with tax increases and spending cuts in order to reassure the markets, then Jeremy Hunt’s Autumn Statement was a reasonably fair way to go about it. But there are some mighty … Continue reading The Autumn Statement (or ‘Revenge of the bean-counters!’)
Tag: public debt
It’s usual for some of the contents of a Budget to leak out before the official announcement. This time, though, we already have a very clear idea of what’s coming on Thursday. The Prime Minister and Chancellor, and their backroom teams, have worked hard to prepare us for ‘difficult decisions’. The good news is that … Continue reading Jeremy Hunt’s tightrope act could see the economy take a tumble
Sunday’s Observer led with the dramatic headline ‘Revealed: the £30bn cost of Liz Truss’s disastrous mini-budget’. Apparently, the former PM is responsible for half of the estimated £60bn fiscal hole that Jeremy Hunt intends to fill on Thursday with tax increases and spending cuts. But if you are suspicious about this claim, then you are right to … Continue reading Is Liz Truss really to blame for £30 billion of austerity?
If you believe the smoke signals from the Treasury – and you probably should – the Budget on 17 November will have to include big increases in tax in order to plug a ‘black hole’ in the public finances. But is it inevitable that taxes will have to rise and, if so, what’s the best way to … Continue reading Are tax rises inevitable?