Tax & Spend
Hunt Set for £10 Billion Budget Boost as UK Economy Improves
- Extra fiscal headroom diminishes threat of more austerity
- Chancellor expected to bank windfall rather than give it away
This article is for subscribers only.
Britain’s economic prospects have improved enough to hand Chancellor of the Exchequer Jeremy Hunt an extra £10 billion ($12 billion) at next month’s budget, removing the threat of a further round of austerity, experts say.
Earlier this year, the Office for Budget Responsibility warned Hunt that it had overestimated medium-term growth and he faced the prospect of more belt-tightening to fill a multi billion-pound fiscal hole.