Of course Brexit creates uncertainties. But the chancellor has funds available now to fulfil the pledge to end austerity
Via Graham Watson
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Graham Watson's curator insight,
February 21, 2019 9:24 AM
Good news for the public finances - not a phrase I've often used, but in this case, it's true. Government finances were in surplus by nearly £15bn, last month, in large part as a result of the month being the deadline for self-assessment tax returns.
However, given the current uncertainty, it's less clear as to whether this means that the Spring Statement will see him announce increased spending, and whilst government borrowing has fallen to just over £21bn, it still means that the size of the national debt is increasing. |
Graham Watson's curator insight,
March 14, 2019 9:03 AM
The Guardian's brief summary of specific initiative contained in the Spring Statement. Contrary to popular belief, there is more to it than Brexit. |
Today's Observer business leader starts with an attack on austerity - and the Spring Statement, suggesting that, instead of simply keeping his powder dry for an unanticipated costs of Brexit, he could have chosen to abandon austerity and heed the Office for Budgetary Responsibility's view that the public finances are improving and that debt interest payments are going to fall.
It's certainly something worth considering - and keeping an eye on as we go forward.