How to spend it: Autumn 2018 Budget response

Published on by

Public Finances and the Economy, Tax and Welfare

Defying expectations of a quiet Budget, the Chancellor yesterday delivered a statement with bigger political and economic shifts than many anticipated. Given the task of delivering a Prime Ministerial promise to ‘end austerity’ with a parliamentary arithmetic that rules out significant tax rises, Philip Hammond seized the lifeline of a much improved public finance forecast … Continued

READ MORE

Tunnel vision: Autumn Budget 2018 and ‘ending austerity’

Published on by

Public Finances and the Economy, Tax and Welfare

In this briefing paper we explore the challenge facing the Chancellor in this year’s Budget: balancing the seemingly conflicting goals of ‘ending austerity’ and lowering debt as a share of GDP. The former comes with a price tag, while the latter precludes the option of meeting that cost simply through extra borrowing.

READ MORE

Healthy finances? Options for funding an NHS spending increase

Published on by

Public Finances and the Economy

The National Health Service will turn 70 on 5 July 2018, but public concern about its condition is at its highest since the early 2000s. This mirrors notable declines in many performance measures over recent years, which have taken place against a backdrop of historically low rises in NHS spending. And looking ahead, funding pressures … Continued

READ MORE

A man for all seasons? What the Chancellor can expect in the OBR’s Spring outlook

Published on by

Public Finances and the Economy

On a number of measures, the economic outlook has brightened a little since the ‘bloodbath’ of the Autumn Budget, meaning the Chancellor is likely to receive some good news on the deficit at next week’s Spring Statement But if the OBR follows the same path as the Bank of England and other forecasters, it is … Continued

READ MORE

An unhealthy interest? Debt distress and the consequences of raising rates

Published on by

Housing, Wealth and Debt

Standing at nearly £1.9 trillion, UK household debt remains a big issue. It is one that has very real and very obvious relevance for those families having to meet repayment commitments. But it is one that has macroeconomic implications too: the debt hangover that has endured over the past decade has undoubtedly hampered the UK’s … Continued

READ MORE