The chancellor's plan, which has forced the Bank of England to intervene to calm market turmoil, will fail to haul the UK's stagnant economy up to his target of 2.5 per cent annual growth, the study warns.
Instead, it amounts to "all pain, little gain for the UK taxpayer and our economy", concludes the Tony Blair Institute (TBI) and Oxford Economics, a leading independent advisory firm. The package, of £45bn of unfunded tax cuts mainly for top earners and big business, will generate only £6bn in extra receipts, the report says "leaving a yawning fiscal deficit".
Diese Geschichte stammt aus der September 29, 2022-Ausgabe von The Independent.
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Diese Geschichte stammt aus der September 29, 2022-Ausgabe von The Independent.
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