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Government plans to spend £46 bn more this Parliament

Thursday, November 24, 2016 0:27
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Most commentators are going on about the £23bn extra spending the Chancellor has proposed based on the spin lines out of the OBR and Treasury.

I look at the actual figures in the Green book compared to the March Budget figures.  These show that total managed expenditure will be £46.1bn higher over the  rest of this Parliament on the new numbers.  The figures are

Total Managed Spending     2016-17  plus £6.9bn

2017-18  plus £12.4bn

2018-19    plus £13.5bn

2019-20    plus £13.3bn

The largest part of this is increased capital spending. In 2019-20 for example total capital spending is up by £8.3bn.

I see I am not the only one who thinks the 2017 forecast for growth is too low. The question for the OBR is why do they think consumption and output are going to decelerate next year, after a strong performance this year which surprised them and forced them and the Bank to increase their estimates?


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