Burnham’s former economic adviser gives Budget a four out of 10
One of Andy Burnham’s former economic advisers has given John Healey’s Budget a four out of 10, warning there remained a 50 per cent chance the UK economy will be in worse shape next year than it is now. Andy Haldane, who for years served as chief economist at the Bank of England, told the [...]
Andy Haldane, a former economic adviser to Andy Burnham, gave Chancellor John Healey's Budget a four out of 10 rating. Haldane warned that there was a 50% chance the UK economy would be in worse shape next year than it is now. He criticized the Budget for failing to make significant improvements in protecting the public finances and called for more insurance measures to guard against potential issues.
Haldane expressed disappointment with the Chancellor's approach, stating that the Budget amounted to a "do-no-harm" event and that it had not addressed the government's fiscal precarity. The Chancellor managed to avoid immediate backlash from the bond market, but Haldane believed that a more robust effort to control public spending could have led to better borrowing costs for the government.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
