The Summer Economic Statement (SES), published last week, is the first element in an increasingly labyrinthine budget process, and it is (like all the summer economic statements before it) short on detail. You won’t find next year’s tax rates here. Rather, it’s broad brush-stroke stuff – an assessment of how the economy has performed and how it might be expected to perform in 2020. But this SES differs from its predecessors in one significant regard,...
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