Autumn Budget could bring 'significant downgrade to fiscal outlook', warns think-tank

The report cities pressures from recent policy reversals, rising debt-interest costs and a gloomier economic outlook as key factors. Above all, the government "must respond decisively" to avoid the sense that it is lurching from one fiscal event to another, wrote the report's author, Resolution Foundation principal economist Adam Corlett. It has also urged the government to raise income tax while cutting national insurance (NI) contributions in a string of measures designed to close the fiscal gap. Increasing borrowing would come with risks, and there are significant challenges ass...