Andy Haldane, who served as chief economist at the Bank of England for years, told the BBC that there was nothing in the Chancellor's maiden fiscal event to reduce the 'credibility gap' with the bond market. He said the UK had been given a temporary reprieve due to the markets' focus on other countries, but warned that this could change.
Former Bank of England official gives Budget a four out of 10
UKPulse Money DeskAndy Haldane, former chief economist at the Bank of England, has given John Healey's Budget a four out of 10, warning there is a 50% chance the UK economy will be in worse shape next year.
- Former Bank of England official Andy Haldane gave the Budget a four out of 10
- There is a 50% chance the UK economy will be in worse shape next year
Why this matters: The Budget's impact on the UK economy and public finances is significant.
What this means for you: If you are a business or consumer, you may be affected by the UK's economic situation and the government's fiscal policies.