Haldane gives Healey's Budget four out of ten

Summarised from 2 outlets · Updated 30 Oct, 11:00 · Archive

Andy Haldane, former Bank of England chief economist, has scored John Healey's Budget four out of ten.

Andy Haldane, a former chief economist at the Bank of England and one-time advisor to Andy Burnham, has given John Healey's Budget a score of four out of ten. He warned there remained a 50 per cent chance the UK economy will be in worse shape next year than it is now.

Haldane told the BBC there was nothing in the Chancellor's Budget to reduce the 'credibility gap this government faces' with the bond market and its concerns over Britain's fiscal path. He said it was 'a Budget with a tincey bit more spending, a tincey bit more tax and nothing really that would give us any greater confidence that those debts and deficit could be brought down – if anything those deficits and debts were revised upwards'. He added that the UK remained in 'quite acute fiscal precarity'.

Haldane, who now serves as president of the British Chambers of Commerce, has previously rebuked the government over what he sees as its unwillingness to tackle Britain's fiscal situation or unleash the private sector for growth. Speaking to the Political Thinking podcast, he said the UK had been given a temporary reprieve by the fact the 'markets' spotlight is not on us', noting that focus was 'across the Channel'.

How it is being reported

• Burnham’s former economic adviser gives Budget a four out of 10One 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 [...]City AM · 30 Oct, 10:45
• Economist and former Burnham advisor scores Budget 4 out of 10Former Burnham advisor Andy Haldane scores Healey's Budget out of 10BBC Politics · 29 Oct, 14:45

In this story: Andy Haldane · John Healey · Andy Burnham · Bank of England · British Chambers of Commerce · UK

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