Burnham’s ex-adviser says PM risks Truss-style crisis if public spending is not slashed – and calls Budget plans for a £2bn tax raid on banks ‘delusional’

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,

This post was originally published on this site

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.