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30th Nov 2015 03:07U.K., Economic Monitor

The Chancellor used the Autumn Statement to shift the composition of the fiscal consolidation slightly away from spending cuts and towards tax hikes. But in overall macroeconomic terms, he changed little. The fiscal stance is still set to be extremely tight in 2016 and 2017, ensuring that the economic recovery will lose more momentum.

u.k. fiscal revisions spending tax gdp growth forecasts obr chancellor autumn statement squeeze asset

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Keywords for: 26 Nov. 2015 The Chancellor Leaves the Fiscal Shackles Firmly in Place

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