Deloitte Chief Economist: Lower borrowing leaves Chancellor with dry powder for extra spending

Deloitte’s Chief Economist Ian Stewart comments on the Spring Statement:

“On this account the economy is in a lot better shape than the news on Brexit would make you believe. Growth is forecast to dip, not collapse, with the UK outpacing Germany this year. Radically lower borrowing leaves the Chancellor with £26 billion of dry powder for extra spending. Incomes are forecast to rise for the next six years, the longest period since before the financial crisis. This sunny view is predicated on the UK leaving the EU smoothly, and with a deal.

“The message from the Chancellor is that with an orderly Brexit better times lie ahead.”

End

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Deloitte Spring Statement spokespeople

Deloitte has a range of spokespeople available to comment on the Spring Statement. They can be reached on 020 7007 3333 or one of the following numbers:

• Ian Stewart – chief economist (07590 041301)
• Daniel Lyons - head of tax policy (07920 270964)
• Sally Jones – international trade policy director (07541 243999)
• Patricia Mock - director, personal taxes (07826 891752)
• Zubin Patel – partner, corporate taxes (07826 952940)
• Mark Groom - head of employment tax (07768 178264/07920 006216)
• Gerry Biddle - business rates (07855 399368/020 7007 9120)

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