Wednesday 27 June 2012

Shock public finance figures threaten Chancellor's fiscal mandate

The run of decent economic news came to an abrupt end this morning with the announcement of an exceptionally poor set of numbers on the public finances. So much for austerity. Central government spending and the deficit are continuing to rise, both year on year and year to date.
If this carries on, then there is a real danger of the Office for Budget Responsibility finding the Government in breach of its fiscal mandate when it does its next update at the time of the autumn statement...Telegraph

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