Economists question ‘black hole’ in UK finances
The government’s justification for upcoming UK tax rises and spending cuts is shaky, economists say. …
For instance, reversing a decision to exclude the Bank of England’s debt from the government’s own debt figure, made in January 2022, “completely wipes out the projected ‘fiscal hole’ and, on the official forecasts, leaves the government with an additional £14bn to spend against its own debt targets by 2027”, they said.
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