Higher Inflation to Reduce UK Public Spending Value by £24bn, NIESR Reports
UKPulse News Desk
A think-tank has stated that higher inflation is projected to reduce the value of UK public spending by £24 billion, with the Iran war cited as a contributing factor.
- Higher inflation is expected to cut the value of UK public spending by £24 billion.
- The think-tank NIESR has called for new policy commitments to be fully funded.
- The impact of the Iran war is noted as a reason for NIESR's call for funding.
Higher inflation is set to diminish the value of UK public spending by £24 billion, according to a report from the think-tank NIESR. The organisation has urged that any new policy commitments should be fully funded.
NIESR's call for fully funded policies is attributed to the impact of the ongoing war in Iran, which is influencing the inflationary environment.