John Hawksworth Head of Macroeconomics PricewaterhouseCoopers LLP in his economic analysis of the Budget opines that increased public borrowing points to tough decisions being needed on tax and spending
Alistair Darling has had a torrid time since he took over as Chancellor last year but he did his best to calm things down in his first Budget. He accepted that the global credit crunch would lead to somewhat slower than expected growth and higher public borrowing in 2008 and 2009 but argued that this was just a temporary setback that would have little permanent adverse impact on the public finances once economic growth had bounced back. Nonetheless it is clear that the Chancellor had very little room for manoeuvre and the Budget as a whole was broadly neutral. Below...
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John Hawksworth Head of Macroeconomics PricewaterhouseCoopers LLP in his economic analysis of the Budget opines that increased public borrowing points to tough decisions being needed on tax and spending
Alistair Darling has had a torrid time since he took over as Chancellor last year but he did his best to calm things down in his first Budget. He accepted that the global credit crunch would lead to somewhat slower than expected growth and higher public borrowing in 2008 and 2009 but argued that this was just a temporary setback that would have little permanent adverse impact on the public finances once economic growth had bounced back. Nonetheless it is clear that the Chancellor had very little room for manoeuvre and the Budget as a whole was broadly neutral. Below...
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.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")