Economists assess fiscal constraints for October budget
1 Sep 22 2:42 AM · 3d ago · 1 article · 1 post · 2 sources · development 1 of 2
Analysts highlight that rising gilt yields since the OBR's Spring forecast have halved Healey's fiscal wiggle room to just over £10 billion of headroom against primary fiscal rules. The government faces pressure to raise revenue through capital gains, property, and wealth taxes since PM Burnham has ruled out raising income tax, VAT, corporation tax, or social security contributions.
“The rise in gilt yields since the OBR's Spring forecast has halved Healey's fiscal wiggle room, leaving just over £10 billion of headroom against the government's primary fiscal rules”
Matt Swannell, ITEM Club
John Healey Finance Minister
Emma Reynolds Deputy Finance Minister
Andy Burnham Prime MinisterOffice for National Statistics (ONS) Official statistics agency
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What was reported 2 claims about this development
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first by Bloomberg.com, 3d ago · also Financial Times
1 more headline
- UK government borrowing surges in blow to Healey ahead of Budget Financial Times · 3d ago
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first by Investing.com News, 3d ago
All 2 developments of UK borrowing surges past forecast, squeezing Healey's… →
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