Published on 28th May 2025

This is the full version of the second paper in my Global Britain series on the UK’s public finances, entitled ‘The UK government’s budget for ‘day-to-day’ costs is out-of-control and deteriorating, and has no chance of being met by revenues by 2029’.

This balance is one of Labour Party new fiscal rules, but it has no chance of being met, not with weeks like the last one, where £50 billion of unbudgeted expenditure was added.

There is supposed to be a Spending Review in progress – for all the good that will do.

You can download the paper through this link.