Sunday, August 1News For London

Tag: Deficit

Post-budget analysis: UK’s two biggest parties at odds

Business, Politics, Video
Britain's two largest political parties are moving ever further away, when it comes to economic policy. Last week's budget, delivered by Chancellor George Osborne, reflected a continuing Conservative gameplan of public spending cuts until well into the next Parliament. However, over in the Labour Party, following the election of Jeremy Corbyn MP as leader, austerity has never been more unpalatable. George Osborne stood at the dispatch box last week, delivering a budget with forecasts provided by the independent Office for Budget Responsibility, (OBR). They augur badly for his plans for deficit reduction. In the run-up to the budget, David Blanchflower, former member of the Bank of England Monetary Policy Committee told Westminster World that he expected the forecasts to repre...