Governments normally rein back on their spending after a general election, but not this one, to the detriment of the public finances, as David Smith explains.
Old Treasury hands know that in the fight for sound public finances battles are sometimes won but the war is never over. Politicians and events are remarkably good at snatching defeat from the jaws of victory. Those whose job it is to keep the public finances in reasonable shape know that they can never drop their guard.
So it is proving now and the remarkable thing is that it has happened so quickly. Cast your mind back to March 2019 which seems like an age ago but is a mere ten months. It is engraved on the collective memory of the Office for Budget Responsibility (OBR) the government’s economic and fiscal...
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Governments normally rein back on their spending after a general election, but not this one, to the detriment of the public finances, as David Smith explains.
Old Treasury hands know that in the fight for sound public finances battles are sometimes won but the war is never over. Politicians and events are remarkably good at snatching defeat from the jaws of victory. Those whose job it is to keep the public finances in reasonable shape know that they can never drop their guard.
So it is proving now and the remarkable thing is that it has happened so quickly. Cast your mind back to March 2019 which seems like an age ago but is a mere ten months. It is engraved on the collective memory of the Office for Budget Responsibility (OBR) the government’s economic and fiscal...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
