Chancellor ‘to miss debt reduction target by £22B’

Chancellor ‘to miss debt reduction target by £22B’

The economy will show little sign of recovery until 2015 according to a report by NEISR[Nat. Inst. for Economic & Social Research]. To fill the hole, the Treasury would need to top up the £123B austerity programme by another £22B, NIESR’s UK economist Simon Kirby said.

As the Pre Budget Report looms, Mr. Osborne has a stark choice between deeper budget cuts or more tax increases.

Leave a Comment