The former chief economist at the Bank of England has told Sky News that Rachel Reeves dire warning about the state of the economy has done more harm than good.
Andy Haldane told Sophy Ridge the chancellor’s July statement had “generated a fear and foreboding and uncertainty among consumers, businesses and investors in UK PLC”.
He said the comments were “unnecessary and probably unhelpful economically”.
The government has warned that next week’s Budget will be “painful” after Ms Reeves said she had discovered a £22bn fiscal “black hole” in the country’s public finances.
#economy #budget2024 #keirstarmer
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