Austerity to end by 2016 but ten years of tight budgets to come

Budget forecasts are likely to show the end of huge cuts to public spending and tax increases in 2016, but government finances will remain extremely tight for another decade. they will also show that the state will have to run small surpluses from th

30th March, 2013

Budget forecasts to be issued shortly by the government are likely to show the end of huge cuts to public spending and tax increases in 2016. But they will also show that the state will have to run small surpluses from then until the early 2020s to comply with European regulations.

In effect this will mean that government finances will remain extremely tight for another decade, during which time they will be overseen by European authorities.

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