• c
  • c
  • c
  • c
  • e
  • c
  • e
  • e
  • b
  • b
  • b
  • a
  • r
  • t
  • r
  • r

November 22, 2017

Evening Standard – Budget 2017: Hammond hit by borrowing wave and OBR growth gloom

Experts said Hammond’s borrowing figures were flattered by the reclassification of housing associations into the private sector, taking some £66 billion in debt and up to £5 billion a year in interest payments off the public books.

 

But the CEBR’s chief economic adviser Vicky Pryce added that Hammond was in a “much worse position all round”, saying: “The bad news is that the forecasts have been revised downwards for every year to reflect the reality of what is in fact going on in the economy: Brexit uncertainty, disposable incomes under pressure and a substantial lower productivity growth.

 

“This downgrade affects what room for manoeuvre Hammond has for increased borrowing and spending.”

 

Read the full article here.

The site uses cookies, as explained in our cookie policy. If you agree to our use of cookies, please close this message and continue to use this site.

Accept & Close