With strains on the public purse and the need to keep the UK’s risk premium down after September 2022’s reckless mini-budget, Chancellor of the Exchequer Jeremy Hunt had limited room for largesse in his 15 March budget.
There were some welcome pro-growth measures to help the supply-side of the economy. But while he patched a fiscal hole, the borrowing outlook looks much tougher – meaning the hardest debt decisions await whoever’s in power after 2024. Neil Williams, OMFIF chief economist and Taylor Pearce, senior economist, discuss what’s in store for the UK.
See also: UK budget patches a hole but borrowing outlook much tougher – OMFIF.