BA Economics (1st Class), University of Cambridge, 2008
Rowena is a Senior Research Economist in the Pensions and Public Finance sector. Her research interests include pensions and saving for retirement, while her recent work also includes analysis of UK public finances and public spending.
Autumn Statement 2015: the first test for the Chancellor's welfare cap
As George Osborne prepares for next week’s combined Autumn Statement and Spending Review announcement, figures released today by the Office for National Statistics suggest that he is on course to slightly overshoot the latest official forecast for borrowing this year of £69.5 billion. To meet his plan to cut borrowing thereafter and achieve a surplus by 2019–20, Mr Osborne faces two big challenges next week. The first is to divide up the shrinking budget for day-to-day spending by departments, while continuing to protect many areas of spending. The second is to remain within his welfare cap while taking on board the recent House of Lords motion that he must reconsider the tax credit cuts he announced in July.