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.”
@DeloitteUK for live comment;
@DanielFLyons1 for Daniel Lyons, Head of Tax Policy; and
@IanStewartEcon for Ian Stewart, chief economist
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