Chancellor trapped between his own fiscal targets, deteriorating economic outlook and growing pressures on spending

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Chancellor trapped between his own fiscal targets, deteriorating economic outlook and growing pressures on spending

Philip Hammond faces another £20bn hole in his deficit reduction plans, as he comes under political pressure to increase spending in the forthcoming Budget. Analysis by the influential Institute for Fiscal Studies (IFS), published today, shows that a productivity forecast downgrade from the government’s Budget watchdog may leave the total deficit as high as £36bn […]