The Chancellor appears to be losing her grip on the public finances fast. In just the past few days, we have seen long term government borrowing reach a 27-year high, the pound fall to its lowest value in 14 months, a shock drop in pre-Christmas retail sales, and major employers such as Sainsbury’s announcing mass job losses. Meanwhile inflation is back up above target to 2.5% and the economy is stagnating at best. The government urgently needs to change course from its high tax, high borrow, high spend agenda.
THE CHANCELLOR'S ECONOMIC MESS
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