Rachel Reeves is about to get bitten by the productivity hedgehog. A bigger-than-expected OBR downgrade means a bigger-than-expected consolidation will be needed to meet the fiscal rules. Makes it harder to honour manifesto tax promises, and harder to build in more ‘headroom’.
Ben Zaranko
Reeves faces £20bn hit to UK public finances from productivity downgrade on.ft.com/4hOCXVD
on.ft.com
Bigger than expected reduction in OBR forecast deals blow to chancellor ahead of Budget
