📢IEA Head of Lifestyle Economics @cjsnowdon responds to #SpringStatement (1/4)
"The Chancellor has decided to alleviate the impact of price rises rather than try to fight inflation.
"The Chancellor has decided to alleviate the impact of price rises rather than try to fight inflation.
"Cuts to fuel duty and income tax are very welcome, as is raising the National Insurance threshold, but they come at the cost of yet more borrowing.
"There are no easy solutions and Sunak’s admission that the UK will pay £83 billion servicing the national debt in 2022/23 shows that there is no cheap money.
"Britain has high inflation, high debt and - still - high taxes. The challenge now is to prevent high unemployment and grow the economy."
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