Hammond’s fiscal blunder almost guarantees a hard-landing

2672932-xlarge_transNvLtDx75wZSR0MSb26ou_2Okz75bEWdW3CpTA5dFee4-large_trans++nntzVh6i2V8vnWmVeYqabkaMYBMjspBErElm7j2lZzs (1)

The UK Treasury has imposed its super-cautious view on the Chancellor, but caution holds its own dangers

Philip Hammond has succumbed to the fatal caution of the Treasury.  A rare chance has been wasted. Britain must now face the full storm of the Brexit downturn next year and the year after without any precautionary buffer worth the name. A hard landing is all but guaranteed. If the Chancellor had wished to launch a barrage of investment on the country’s rickety infrastructure and do something to lift productivity from the bottom ranks of the OECD league, there could scarcely have been a better global climate. All the stars are aligned.

Ambrose Evans-Pritchard of the Telegraph

 

Posted on by CCKeith in Uncategorized
Switch to mobile version