Toughest public spending cuts pushed back until after next election
Public spending will face a squeeze under Jeremy Hunt’s Autumn Budget but most of the pressures may not be fully felt until after 2025.
It means that the Conservatives could be out of office by the time spending cuts are scheduled to take full effect.
The decision likely means fewer day-to-day cuts to public spending than originally expected, with Treasury officials stressing that the cuts cannot be compared to those overseen by former Tory chancellor George Osborne in the 2010s.
“The fiscal tightening is heavily back-loaded, with the vast bulk spending cuts in particular pencilled in for after April 2025,” the IFS Director Paul Johnson said.
“Delaying all of the difficult decisions until after the next general election does cast doubt on the credibility of these plans.”