UK Has £100 Billion for Budget Giveaways, Upbeat Forecaster Says
- NIESR is way above most forecasts for £10 billion fiscal space
- Upside created by higher inflation and no market response
Jeremy Hunt
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
UK Chancellor of the Exchequer Jeremy Hunt will have almost £100 billion ($119 billion) for giveaways in next week’s budget, a top economic forecaster said in a uniquely optimistic outlook.
The projection by the National Institute of Economic and Social Research makes it a massive outlier, with most forecasters expecting Hunt to have little more than the £9 billion headroom in November’s autumn statement. The government has suggested there is no fiscal room for big giveaways.