- Rising gilt yields and falling inflation shrink the government’s ‘headroom’ to near-record lows
- Economists warn giveaways could make the BoE more cautious about cutting interest rates
After months of speculation about the abolition of inheritance tax and sweeping income tax cuts, the Spring Budget was a rather restrained affair. A further 2p cut in national insurance contributions and an extension to the fuel duty cut were the headline measures in an economically restrained – but politically important – Spring Budget.