This via Reuters on a report from the Institute for Fiscal Studies (no, I dunno who they are :-D )
Says British Chancellor (finance minister) Philip Hammond's aim to run a budget surplus by the mid-2020s risks being thrown off track next month
- Assumptions about long-run growth may be too optimistic
- Despite borrowing falling to a 10-year low last month, Hammond could need to find more than 50 billion pounds ($66 billion) a year in extra savings by 2021 if he wants to stick to plans he set out in March to cut the budget deficit .... "It is perhaps time to admit that a firm commitment to running a budget surplus from the mid 2020s onwards is no longer sensible"
