2min chapter

IFS Zooms In: The Economy cover image

The Spring Budget Explained

IFS Zooms In: The Economy

CHAPTER

Is He Spending the Debt?

He's spent it mainly on things aimed at boosting the UK's rather dismal growth prospects around things including employment or encouraging investment. But there's no getting away from the fact that yes, he spent it. And his key fiscal target is to be getting debt down in the last year of the forecast period, which is in 2027, 28. He is just about meeting that target. Back in the autumn, we said he was meeting his fiscal target by a hair's breadth for something similar. It was about nine billion previously now, about six billion. We're actually now going to have a lower level, and we thought previously, but falling by ever so slightly less.

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