Andy Haldane, former Bank of England chief economist, has warned of further borrowing and tax rises in the upcoming Budget. Speaking at an Ipsos event, he said that Labour's plans for a larger state are 'expensive' and will lead to further borrowing. Kemi Badenoch has also urged Chancellor John Healey to cut spending to fund defence spending and slash business taxes.
Andy Haldane warns of 'further borrowing' and 'tax rises' in upcoming Budget
UKPulse Money DeskFormer Bank of England chief economist Andy Haldane expects further borrowing and tax rises in next week's Budget, according to a speech he gave at an Ipsos event.
- Andy Haldane expects 'further borrowing' and 'further tax rises' in the upcoming Budget
- He warned that Labour's plans for a larger state are 'expensive'
- Kemi Badenoch has urged Chancellor John Healey to cut spending to fund defence spending and slash business taxes
Why this matters: The warnings from Haldane and Badenoch could have significant implications for the UK economy, with potential impacts on businesses and individuals.
What this means for you: If you're a business owner or individual affected by tax rises and borrowing, this could have significant implications for your finances.