Following on from the Budget, the CPS published a briefing which showed that as a result of changes announced, state spending is set to increase to an astonishing £1.5 trillion by 2029/30.
Unless Labour’s planning reforms deliver an unexpected growth bonanza, Britain faces another decade of virtual stagnation in living standards, which will result in Brits in 2029 being around £10,000 poorer than they would have been if GDP per capita growth had rebounded to the pre-2008 trend.
The report was covered by the Sunday Express on publication, and formed part of the Daily Express front page story the next day, the Daily Mail, and CPS Tax and Fiscal Researcher Daniel Herring spoke to Times Radio. CPS Director Robert Colvile made the briefing the theme of his weekly Sunday Times column, as did External Affairs Director Emma Revell in City A.M..
The full briefing is available here.
Date Added: Tuesday 5th November 2024
