Meanwhile, the economy ticks towards a boom

Article Abstract:

The UK government's 1996 Budget was not designed with the aim of attracting voters in the vital pre-election period. It was very cautious in tone, with tax cuts and public spending reductions largely balancing each other out. Ideally, budgetary policy should have been tightened a lot more than it actually was, with the PSBR set at must lower than 26 billion pounds sterling in 1996/1997. The economy is entering a period of potentially dangerous consumer-led recovery, and it is vital that base rates are increased quite soon if this is to be kept under control.

Analysis, Economic aspects, Budget, Budgeting, Budgets

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A basic arithmetic refresher for 11 Downing St

Article Abstract:

The UK government's budget deficit is expected to remain very high both in 1996 and in 1997. This will make it very difficult for chancellor Kenneth Clarke to make any large tax reductions in the Nov 1996 Budget. He continues to emphasise that his long-term goal is budget balance, so he cannot allow the budget deficit to become any larger. The most important task in the foreseeable future will be to keep government spending under strict control.

Economic policy, Budget deficits

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