Economy and Fiscal Forecasts
The Chancellor’s message in this part of his presentation was upbeat but cautious. He would consider relaxing his expenditure criteria, but only if the positive indicators continued.
His consistent message was “there is a light at the end of the tunnel, but caution is still required”.
- Indicators for GDP growth, manufacturing output, and employment are forecast to rise.
- The indicators for inflation and government borrowing are forecast to fall.