
“Not necessarily a budget,” is the main message from the Treasury on Wednesday.
There will be no red box outside the number 11 only will be a “thin book” of new policies that have no tax ups to the “light score card”.
So what is the point of this spring?
This is a spring forecast from the government’s budget liability (OBR) office from the government’s official predictors. In this process, it should take into account the economy more slowly than expected and the higher government debt costs.
This OBR forecast has deleted the room for the maneuver against the “agreed” rules about the government’s debt in the future. Made a number of adjustments to keep the numbers on the road.
Basically, low growth and higher debt costs have been exploded of budget numbers.
We will hear a lot about the Chancellor’s “how the world changed.”
The reality is supposed to be required before changing the President Trump global diplomacy and trade.
On Wednesday, the Chancellor’s “changed world”, we will not continue to continue to apply to the increase in taxes.
And if the consumption is not returned, then where does the money come from?
Although no significant tax events are not expected, the Chancellor, however, can leave the choice at the table for the fall budget.
Some economists are waiting for tax rises in autumn, especially to meet the defense costs. There is a conversation on “talking” in this matter.
In the first budget, the Chancellor, for example, extended the conservative frozen to the limit of income tax for another two years. The Society can turn back as an option around the spring expression.
£ 5 billion for the spending of welfare It is the largest unit prosperity declared already declared. Are likely to be the biggest savings.
On Wednesday, the number of individual independence payments (pipe) and universal loans, the average number of divisions between the average or future buyers should be found. Hundreds of thousands of thousands of thousands of pounds worth of pounds will lose thousands of pounds.
Civil service’s price was cut off £ 2.2 billionIncluding personnel in 2029-30. The 15% interruption is a significant part of the expended by the government’s salaries and consultants.
However, the Chancellor lost 10,000 losses from only half a million manuals – especially as they saw 30-40,000 rates each year.
Unions cannot be done without damage to frontage services. Here are a lot of walking for placing automation and artificial intelligence.
Another fraction of the department’s budgets, another attack, which is an attack on tax evasion, and the transition to protection protection should help you to restore the Chancellor’s room for several billion pounds maneuvers.
This budget will be difficult to characterize as “stiffness”, taking into account the early injection of large amounts of interest to the people.
There will be a key feature of spring expression that the increase in defense costs increases.
It is more capital than expendit for defense costs (eg airplanes and tanks), so more, it is released only from the rules of use to restrict expenditure only day by day.
Growth discount
In 2025, a part of a part for the economy for the economy will be paid to a lot.
The real question for the Chancellor, passing until the end of the forecast period and so many economies and tax revenues. This may not be and therefore does not affect the budget numbers too much.
Treasury, such as planning changes, is trying to buy an OBR for a loan to developing growth.
In the theory, the higher growth, more growing for maneuver and shows that more space is more space for the maneuver. But OBR, it can be harsher than the last foreign research of their methods.
Here is a bigger picture of growth and government strategy. The government’s infrastructure, industrial and trading strategies are waiting for investors and businesses still power.
The new global reality means even more uncertainty, as well as a potential for the advanced border science, research and financial services based on a stable, rules.
This is also the same for a folk that can store trade and investment relations with the United States, Europe, China and Gulf, such as the Tariff Tufult Tufult. The cabinet calls this “the most affiliated economy in the world.”
Does the world hear this? The British government’s debt costs rose again, as markets are waiting for a new calendar of bond sales on Wednesday.
The UK’s bond productivity went to the United States in January, but this stopped, and after the public debt, they also rose to Europe. The worst of both worlds for the debt forecast.
Spring Statement The opposite case may be an opportunity to make a project – Britain is unparalleled to be the best in both worlds. A kind of economic deal in the United States is inevitable and negotiations on the brexit reset are also progressing.
There are some small signs of the economy, especially in the service sector. Small businesses in retail and hospitality, the increase in national insurance and national living, escapes a kind of pain related to one type of pain.
Thus, Wednesday will answer some important questions about the economy, not necessarily a budget.