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News last week increased our conviction that the economy will struggle over the coming months, but then will have a spring in its step next year.
Later today, the Chancellor likely will take the first step towards abandoning plans for further fiscal tightening. In
August's public finances figures, released last week, were an unwelcome but manageable setback for the Chancellor.
The Chancellor probably can't believe his luck. Public borrowing has continued to fall this year at a much faster rate than anticipated by the OBR, despite the sluggish economy.
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