£59bn impact of Brexit and Chancellor’s decision to increase investment spending drive £122bn extra borrowing  

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Fiscal Choices

Philip Hammond chooses not to support just about managing families who face a double whammy of lower earnings and benefit cuts Slower growth and higher inflation will mean higher borrowing and a parliament of falling living standards for millions – with the Chancellor missing an opportunity to provide much-needed support for just managing families – … Continued

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Chancellor faces an £84bn borrowing black hole in his Autumn Statement

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Fiscal Choices

The Chancellor is facing a sharp deterioration in the public finances in his Autumn Statement, but a fiscal ‘reset’ would allow him to boost investment spending and increase support for ‘just managing families’, according to a new report published today (Wednesday) by the Resolution Foundation. The report, Pressing the reset button, comes with the Autumn … Continued

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Chancellor right to abandon Budget surplus target in the face of any post-Brexit deterioration in the economy

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Fiscal Choices

Responding to the Chancellor’s announcement today that he has abandoned his Budget surplus target for 2020, Matt Whittaker, Chief Economist at the Resolution Foundation, said: “It’s welcome – though not surprising – that the Chancellor has explicitly acknowledged that it would be wrong to pursue a surplus in the face of any post-Brexit deterioration in … Continued

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