IEA Economics Fellow Julian Jessop has been quoted in The Daily Express arguing that the government now has the ability to deliver tax relief after public sector borrowing for the year ending in March 2023 came in £13.2 billion lower than forecasted.

Julian said:

“The public finances data is, once again, not as bad as feared.

“Borrowing in the year ending in March has come in £13.2billion below the forecast from the Office for Budget Responsibility. This suggests the Chancellor has more headroom for pre-election tax cuts and other sweeteners.”

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