Chancellor George Osborne has abandoned plans to run a budget surplus by 2020 as Brexit threatens a ‘significant negative economic shock to our economy’.
His comments follow a speech yesterday by Theresa May, the favourite to win the Conservative Party leadership, in which she pledged to abandon the budget surplus target, a key part of Mr Osborne’s fiscal strategy since last year.
Want full article access?
Receive The MJ magazine each week and gain access to all the content on this website with a subscription.
Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.
Already a subscriber? Login
