- Despite the good news, Budget giveaways are unlikely
- Are public finance forecasts too volatile to prompt policy decisions?
In the aftermath of last year’s autumn statement, public finances were reportedly facing a “fiscal black hole” worth tens of billions of pounds. Less than four months later – and with the spring Budget rapidly approaching – public finances seem to be in a much better position: chancellor Jeremy Hunt has found himself with an unexpected £30bn “windfall”. How can government finances swing so dramatically?