Report

Black holes and consolidations

This report from UK think tank the Resolution Foundation previews the key decisions for the upcoming Budget.

The upcoming Budget – which the Chancellor has already signalled will come with spending cuts and tax rises – is a pivotal moment for a Government looking to improve the mood music around its economic-policy agenda.

This is a challenge that is likely to made all the more difficult by the Office for Budget Responsibility (OBR) revising down its view of ‘trend’ productivity growth – effectively the ‘speed limit’ for the economy.

Despite this difficult backdrop, the Chancellor should seek to take steps to reduce child poverty, help families struggling with the cost of living, as well as building confidence in the public finances.