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Budget increased spending, borrowing and taxes, John Redwood notes

Budget increased spending, borrowing and taxes, John Redwood notes
Budget raised spending and borrowing levels

John Redwood said the recent budget increased spending, borrowing and taxes.

He added that the budget did not address benefits spending and led the Office for Budget Responsibility (OBR) to forecast a slowdown in growth next year. Redwood stated there is still a need for a proper growth strategy.

Redwood has previously questioned claims that rejoining the EU would boost growth, citing outcomes after Brexit that contradicted earlier forecasts in a recent article. He recently reported that the 10 year UK bond yield climbed to 5.48 percent, surpassing the French rate of 4.88 percent, in a separate market update. These remarks come as Redwood continues to focus on UK economic policy and performance.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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