The Importance of Fiscal Leverage

Grim reality is that we are poorer as a country than we thought we were. And it's happening now, combination ofBrexit and Russia's invasion of Ukraine. What we can afford to spend on public services has got to reflect those underlying economic realities. Either parties will come forward with credible plan to increase economic growth. But they're going to have to be careful about what levers they pull there in terms of fiscal levers.