Citi Says Sunak Can ‘Go Big’ On Stimulus Spending in U.K. Budget
- Citigroup says Joe Biden’s program in U.S. could be a guide
- Research group says education and health need more funding
Rishi Sunak
Photographer: Tolga Akmen/AFP/Getty Images
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Rishi Sunak can afford to follow the U.S. and “go big” on spending to bolster a post-pandemic recovery in the U.K., a Citigroup economist said as the chancellor of the exchequer prepares his annual budget.
At the same time, the British measures should be “better targeted” than the ones President Joe Biden set out, according to Ben Nabarro, the bank’s U.K. economist. He warned that many years of deficits mean that the U.K. Treasury has less room for maneuver than the U.S.