£30bn of additional spending and tax cuts is money chancellor might believe saved for a rainy day,says Treasury forecaster Philip Hammond will allow the government’s spending deficit to rise next year as he seeks to pay for the first round of additional NHS spending and a series of measures that will “bring an end to the era of austerity”.
The chancellor sanctioned a rise from 1.2% to 1.4% in the annual deficit between this year and 2019/20 as he sought to honour promises made by the prime minister to boost spending on health, local authority housing and a freeze on fuel duty.
Continue reading...
Source: theguardian.com