Public Spending
The Briefing Room
00:00
The Chancellor's Mini-Budget
Paul Johnson is director of the Institute for Fiscal Studies, or IFS. His study this week published its own study at the choices the government faces. The Chancellor announced a set of tax cuts which come to somewhat more than £40 billion a year into the medium run. As a fraction of the total economy, it's the biggest that we've seen in 50 years. But he didn't tell us anything about the public finances or public spending. He simply stood up and said, here's £40 billion of tax cuts.
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