Press release

A real crowd pleaser from the Chancellor

29 October 2018

Ian Stewart, Deloitte’s chief economist, comments on the Budget:

“This is a real crowd pleaser of a Budget. With faster growth, tax cuts, more public spending and less government borrowing there’s something for everyone here.

“But it’s all subject to two, quite hefty, caveats. The arithmetic is based on a smooth Brexit and the government has chosen to spend the fruits of an improvement in the public finances, rather than doubling down on debt reduction. As a result the government is set to carry on borrowing well into the 2020s.

“Further out, UK public finances face enormous challenges as an ageing population increases demand for health and welfare services. Growth in long term demand for public services can only be met by more borrowing or higher taxes.”

 

 

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Deloitte spokespeople

Experts from Deloitte are available now and on the day of the Budget for comment. On Monday 29 October, please call the Deloitte Media hotline on 020 7007 3333, where you will be directly connected to one of our spokespeople.

About Deloitte

Deloitte LLP is the United Kingdom affiliate of Deloitte NWE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). DTTL and each of its member firms are legally separate and independent entities. DTTL and Deloitte NWE LLP do not provide services to clients. Please see About Deloitte to learn more about our global network of member firms.

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