Boris Johnson won the first round of the Tory leadership race. Photo: Tyrone Siu/ Reuters The UK government is likely to go on a borrowing spree under the next Conservative prime minister, according to analysts.
Most of the candidates in the Tory leadership race have already unveiled plans for significant tax cuts, and face pressure to ease the drastic spending cuts of the past decade.
Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the new prime minister would most likely “quietly shelve the current fiscal targets.”Boris Johnson or another new leader could then borrow more, spend more and hope to […]
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