Rachel Reeves may have to find up to £30bn in tax rises or spending cuts if forecaster revisits expectations
Treasury policymakers frustrated by the politically damaging timing of a downgrade to UK productivity forecasts by the Office for Budget Responsibility (OBR) are pressing the watchdog to score the benefits of Labour’s pro-growth plans.
Rachel Reeves faces the prospect of having to find up to £30bn in tax rises or spending cuts in her 26 November budget if, as expected, the OBR cuts its forecast for future productivity growth to match the consensus of other experts.
Continue reading…Rachel Reeves may have to find up to £30bn in tax rises or spending cuts if forecaster revisits expectationsTreasury policymakers frustrated by the politically damaging timing of a downgrade to UK productivity forecasts by the Office for Budget Responsibility (OBR) are pressing the watchdog to score the benefits of Labour’s pro-growth plans.Rachel Reeves faces the prospect of having to find up to £30bn in tax rises or spending cuts in her 26 November budget if, as expected, the OBR cuts its forecast for future productivity growth to match the consensus of other experts. Continue reading…
