Oct 30, 2018
Budget 2018: MPs debate 'end of austerity' claim
MPs will debate the Budget later with Labour dismissing the government's claim to be ending austerity. In the Budget Chancellor Philip Hammond used a tax receipts windfall to put money into the NHS and universal credit and bring forward income tax cuts. The Office for Budget Responsibility said the spending promises represented the biggest Budget giveaway since the independent fiscal watchdog was set up in 2010. Mr McDonnell dismissed Mr Hammond's claim that austerity - which refers to the public spending cuts that have been in place since 2010 - was "Coming to an end". Torsten Bell, director of the Resolution Foundation think tank, said the Budget had "Significantly eased - but not ended - austerity for public services".
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