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...Hunt received the Office for Budget Responsibility’s second pre-Budget forecast on Wednesday, and officials briefed on its contents said things had “gone backwards” since the first forecast on January 30...
...Hunt’s Budget planned for public spending to grow 1 per cent a year in real terms, with spending per capita flat for the rest of the decade....
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...But part of the price of this Budget’s tax cuts is that debt continues to rise until 2028/9....
...The Congressional Budget Office said on Wednesday that interest payments on US government debt would account for about three-quarters of the rise in the deficit between now and 2034....
...The Office for Budget Responsibility has confirmed that growth prospects are weak....
...Fiscal policy will be loosened by 0.3 per cent of gross domestic product per year on average over the next half decade, according to the Office for Budget Responsibility, only half the size seen in last...
...Expectation management is an integral part of the pre-Budget ritual, but one Downing Street official claimed it had been “agony” in the past few weeks as policies were ditched because of deteriorating forecasts...
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...“Reducing the purchase price for equipment is probably an important way of meeting the quantity requirements of equipment for war preparation under the current rigid military budget framework.”...
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