- Former Bank of England chief economist Andy Haldane has condemned prime minister Andy Burnham’s Budget measures as reckless, comparing the handling of the economy to medical negligence.
- Writing in The Independent, Haldane warned that failing to reduce UK borrowing costs risks triggering a financial heart attack similar to the 2009 crisis in Greece.
- He described Britain’s current fiscal position as its most precarious in half a century, noting that UK borrowing costs are higher than any other G7 nation.
- Haldane criticised the government for reducing its fiscal headroom from £23 billion to £16 billion instead of raising up to £40 billion through tax rises or spending cuts.
- He warned that these measures lack credibility with financial markets and ultimately put the poorest in society at severe risk.
IN FULL
