|
Re: New Prime Minister: Liz Truss
https://www.bbc.co.uk/news/live/uk-p...ost_type=share
Quote:
20:11
Long-awaited debt plan to be provided shortly
Faisal Islam
BBC Economics Editor
The government is to pull forward its long awaited debt plan from late November, the BBC understands.
The Treasury Select Committee, former Chancellor George Osborne, and many in the markets have advised the government not to allow a hiatus of several weeks’ market speculation over how its numbers will add up.
The chancellor told the Conservative conference that the figures would be provided “shortly” rather than 23 November.
While the date is to be confirmed, it could occur this month, after the Office for Budget Responsibility (OBR) told the Treasury it could complete its deliberations in a faster timeframe.
The OBR will cost all the policies announced by the chancellor and provide new numbers for borrowing.
The budget watchdog will also cast judgement on the government’s claims that its raft of reform policies will boost the growth of the economy.
The numbers will set the parameters for critical decisions on the extent of spending cuts required to meet the chancellor’s fiscal targets, given the £43bn in unaccounted tax cuts.
It is the latest sign that Number 11 is willing to do what it takes to regain confidence lost since the mini-budget, following the acknowledgement of problems with the mini-budget and the U-turn over the scrapping of the 45p rate.
But the decisions revealed by the OBR analysis will lead to a different set of tough decisions - how to make the numbers add up. Independent analysts say the scale of required cuts could rival the 2010 coalition austerity programme.
|
__________________
Thank you for calling the Abyss.
If you have called to scream, please press 1 to be transferred to the Void, or press 2 to begin your stare.
If my post is in bold and this colour, it's a Moderator Request.
|