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17/07/2013
OBR Urge Even More Spending Cuts
The Office for Budget Responsibility (OBR) has called on the government to cut a further £19 billion from public spending, or to raise taxes.
The OBR claim that an "unsustainable" pressure will be applied to public finances by the UK's ageing population unless the government acts.
It their latest fiscal sustainability report, they say that, on top of the already-announced £153bn in austerity measures, an additional £19bn in spending cuts is needed by April 2019.
Adding that if action isn't taken the increasingly-elderly population and the provision of pensions and healthcare would erase the impact of much of Chancellor George Osborne's spending cuts.
(MH/CD)
The OBR claim that an "unsustainable" pressure will be applied to public finances by the UK's ageing population unless the government acts.
It their latest fiscal sustainability report, they say that, on top of the already-announced £153bn in austerity measures, an additional £19bn in spending cuts is needed by April 2019.
Adding that if action isn't taken the increasingly-elderly population and the provision of pensions and healthcare would erase the impact of much of Chancellor George Osborne's spending cuts.
(MH/CD)
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