Saturday November 28, 2020

Further slowdown fears may affect budget severity

Fears that massive budget cuts in public spending and steep tax increases could prompt a further slowdown in economic activity are likely to lessen the severity of next month’s emergency budget.

14th March, 2009

Fears that massive budget cuts in public spending and steep tax increases could prompt a further slowdown in economic activity are likely to lessen the severity of next month’s emergency budget.

Ministers and officials are worried that taking too much money out of the economy could further depress demand, leading to lower tax receipts and worsening the economic crisis.

These concerns could lead to a further expansion in borrowing this year, beyond the...

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