Economist, Visiting Professor, Lecturer, Writer, Public Speaker.
The spending review is a forward-looking process by which the government sets departmental budgets for future years, including for key sectors such as the NHS, Education, Defence and Transport. It also determines the government’s day-to-day running administration costs and capital spending for investments in public services and military equipment. This process sets day-to-day expenditures for …
Continue reading “UK Spending Review 2025 – up against the limits”
This is the first Labour Budget since 2010, and the first by a woman in UK history. It is aimed at raising economic growth in the long run, funded by tax rises and increased borrowing in the short term. The tax rises mainly came from employers’ National Insurance contributions and employers’ contributions to pensions, which …
Continue reading “Immediate reaction to the October Budget, 2024”
Framed as a budget to shrink debt and control inflation, Jeremy Hunt’s statement in the fifth fiscal event of this year essentially left most of the heavy lifting to 2025 and beyond. Of the measures announced, some three quarters were spending cuts, and just one quarter were tax increases. Of the £61.7 billion fiscal tightening …
Continue reading “Has the Chancellor tightened policy too much?”