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U.K. to Open Spending Taps Amid Perilous Economic Outlook
U.K. to Open Spending Taps Amid Perilous Economic Outlook
04 Sep 2019, 01:42 PM IST
(Bloomberg) --
U.K. Chancellor Sajid Javid is expected to say that a decade of austerity is over as he hands out extra money for schools, hospitals and policing in his spending review Wednesday. Commitments made since Boris Johnson became prime minister already total 6 billion pounds ($7.25 billion) next year, according to the Resolution Foundation. But with the economy on the verge of recession and a chaotic no-deal Brexit looming, there are doubts about whether the pledges are unsustainable.
To contact the reporter on this story: Andrew Atkinson in London at a.atkinson@bloomberg.net
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Lucy Meakin, Sheldon Reback
©2019 Bloomberg L.P.
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