The Prime Minister risks a Liz Truss-style crisis that will undermine the Government’s popularity and ‘crater’ the economy if public spending is not slashed in the Budget, a key Labour ally has warned.
Former Bank of England chief economist Andy Haldane cautioned the PM that his Government risked delivering a ‘mañana’ Autumn Budget which does not ‘speak to the urgency of now’ and delays decisions on public spending.
Mr Haldane – who acted as an informal aid to Mr Burnham when he served as mayor of Manchester – warned the Government has failed to acknowledge the ‘precarious’ fiscal position it is in,
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