Deloitte chief economist comments on today's Spending Review
Commenting on today’s Government Spending Review, Ian Stewart, chief economist at Deloitte, said:
“Sizeable increases in departmental spending and a welcome step up in capital spending are significant positives for UK growth in the near term.
“After a surge in the next two years, growth in public spending is set to slow towards the end of the parliament. Moreover, today’s statement is about the government’s priorities, not about overall levels of spending, debt or tax which were set in March. The Autumn Budget will be the big test of whether the government’s fiscal plans are holding in the face of global economic headwinds.”
Ends
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