“This is a fiddly, tinkering, complicated budget which cannot be expected to do much to promote the economic growth the UK so badly needs,” comments Mark Littlewood, Director General at the Institute of Economic Affairs.
“Spending remains too high and the government may well continue to run a deficit for the rest of the decade, thereby still adding to the national debt.
“The ring-fencing of areas of very high government spending has made it much harder for the Chancellor to come remotely close to balancing the books. Even his new, more modest plan to eventually stop over-spending is reliant on growth forecasts which, to date, have been wildly over-optimistic.”
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