FTSE 100 Live: OBR chiefs face MP grilling; Food inflation slows Markets Good morning and welcome back to the City AM liveblog. The Office for Budget Responsibility (OBR) admitted its “worst failure in the 15-year history” of the fiscal watchdog on Monday. This morning, from 10am, two of its remaining spokespeople will be facing a grilling from the Treasury select committee of MPs. The sensational leak of [...]
Labour given fresh warning on ‘real’ risk of fiscal crisis without cuts Economics Labour Party parliamentarians have been alerted to the “real” risk of an economic emergency if spending cuts are not made as the incoming tax hikes at the Budget could trim growth and worsen the UK’s jobs crisis. Backbench MPs have been widely blamed for failing to back the government’s small welfare cuts earlier this year, [...]
Britain is heading for a fiscal crisis Opinion Without immediate, credible action to rein in spending, contain debt and keep inflation under control, Britain will sleepwalk into disaster, says Gerard Lyons The UK is in danger of sleepwalking into economic torpor. The issues we face are real, sizeable but, crucially, solvable. However, solutions have too often been evaded through short-term fixes and political [...]