First Johnson attacks Labour for pretending the economy is better than it was in \u201cPhase One\u201d when it made small cuts and raised taxes. Those cuts which it is now reversing\u2026<\/p>\n
\n\u201cDespite some of the rather odd recent claims, neither the economic forecasts nor the public finances have improved relative to the genuinely difficult situation we knew about a year ago, rather the reverse.\u201d<\/p>\n<\/blockquote>\n
Johnson added Reeves\u2019 speech \u201cdid not appear to be a serious effort to provide any useful information to anybody.\u201d Huge council tax hikes are baked into government expectations and the review \u201cassumes that council tax bills will rise by 5% a year\u201d which means \u201cbills look set to rise at their fastest rate over any parliament since 2001-05.\u201d Most of which is getting sucked up by the NHS, which gets 90% of increases in day-to-day spending\u2026<\/p>\n
The IFS chief said there is no longer space for massive handouts to the public sector in pay \u2013 teeing up for a battle with the unions. Economists say that today\u2019s poor GDP statistics are not an aberration and are likely to continue. If the OBR scores down its forecast for economic growth Reeves is headed for another clanger of a budget\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"IFS Chief: Labour Can\u2019t Pretend Economy Has Got Better Since Election mdi-fullscreen Outgoing Institute for Fiscal Studies director…\n","protected":false},"author":2,"featured_media":178563,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,3095,16,15],"class_list":{"0":"post-178562","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-ifs","11":"tag-uk","12":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114670814105044735","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/178562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=178562"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/178562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/178563"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=178562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=178562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=178562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}