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Type: Newspaper Articles Authors: Carl Emmerson and Gemma Tetlow
Published in: Public Finance Magazine
George Osborne might have a feeling of déjà vu as he prepares to release his Autumn Statement on December 5. Last year, downgraded growth forecasts led to the estimates for tax receipts being revised down and those for welfare spending being revised up. Unfortunately, revisions in the same direction can be expected this autumn: the average of independent forecasts for borrowing in 2015/16 is now more than £10bn higher than it was just six months ago. Last year, Osborne responded by allowing borrowing to rise in this Parliament and extending the planned period of deep spending cuts by one further year. Might he do the same again this year? Search |
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