The giant hole in government finances is more proof that austerity has failed

Miatta Fahnbulleh writes for Guardian.

Miatta Fahnbulleh wrote for the Guardian about how the government needs to change its fiscal rules to rescue the economy.

While much of the talk this week has been about the election, far less reported was the news that government coffers will probably be a massive £43bn worse off than expected. This would wipe out the often-quoted £27bn headroom” built up by the former chancellor Philip Hammond to cope with the costs of Brexit, and overshoot the government’s deficit target by £16bn.”

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