Press release

Deloitte Chief Economist: Lower borrowing leaves Chancellor with dry powder for extra spending

13 March 2019

Deloitte’s Chief Economist Ian Stewart comments on the Spring Statement:

“On this account the economy is in a lot better shape than the news on Brexit would make you believe. Growth is forecast to dip, not collapse, with the UK outpacing Germany this year. Radically lower borrowing leaves the Chancellor with £26 billion of dry powder for extra spending. Incomes are forecast to rise for the next six years, the longest period since before the financial crisis. This sunny view is predicated on the UK leaving the EU smoothly, and with a deal.

“The message from the Chancellor is that with an orderly Brexit better times lie ahead.”



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