Paul Johnson News

02.04 / 08:25

economy information Economists lambast Reeves for 'loose fiscal rules' following restoration of 'miniscule headroom'

Speaking at a Treasury Committee hearing on Tuesday (1 April), director of the Institute for Fiscal Studies Paul Johnson said Reeves' near £10bn buffer «is not enough for confidence that [the UK] will not need adjustments over the next few fiscal events». During her Spring Statement last week (26 March), Reeves informed fellow MPs that she had made the necessary changes to restore the government's fiscal headroom – the amount of leeway the government has within its self-imposed fiscal rules to increase spending or cut taxes – to £9.9bn. Friday Briefing: The UK economy may be more fr...

01.11 / 18:39

IFS concerned Budget is 'a repeat of the silly games played by the last government'

Large increases in tax and spending, promised by the Labour party are «not costless», according to the economic think-tank's director, Paul Johnson, who expressed concern about the «front-loaded» nature of many of Reeves' spending commitments. The chancellor said that after 2025-26, day-to-day public spending is projected to decline to 1.3% per year, a figure that Johnson described as «miserable». «Of course, spending will start off higher but, frankly, I would be astonished if these plans are kept to,» he said, adding that the Labour Party's first fiscal event since 2010 «looks horr...

29.11 / 12:20

UK Debt net zero government debt freeze Government debt reduction forecasts include inflation-linked fuel duty rises despite 13-year freeze

A panel of independent economists were quizzed by TSC chair Harriett Baldwin on their views regrading Hunt's latest Autumn Statement: Credit: HM Treasury

22.11 / 14:54

NIC economy social UK's Hunt to cut National Insurance rate in boost for millions of workers

LONDON (Reuters) — British finance minister Jeremy Hunt on Wednesday said he would cut the amount of National Insurance social security contributions paid by 27 million workers in a move that will save employees hundreds of pounds a year.

15.08 / 23:51

Technology Sunak Truss v Sunak: Rivals to succeed Boris Johnson blasted over 'fantasy' economic plans

Britain's leading politicians have been accused of coming up with "pure fantasy" solutions to the country's problems, amid the worst cost-of-living crisis in decades.

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