The Treasury Select Committee has published its view on the Budget, saying the government is riding a narrow margin of error on its "golden rule" and must stop overestimating tax receipts as per the past three years.
Spending plans are reasonable, the Committee suggests, but any GDP growth rates above or below the projections will challenge the Treasury. Any failures in the planned efficiency programme – including job cuts within departments – will also put pressure on the government, which is why the Committee wants “clear indications in the Spending Review as to how the savings are to be made and how their achievement is to be measured.” Long-term savings also get a mention in light of changes hitting the ISA regime this year. ”The Committee reaffirms its view that to reduce the cash limits f...
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