Published: December 19, 2018
This government has decided that a tax cut bribe is the best hope of staying in power. What are the chances of a budgetary hangover?
Here’s a story you might have heard before – it’s about a government who (to quote a former prime minister) got hit in the arse with a rainbow and decided to assume the good times would last forever, and while facing a massive electoral defeat handed out a swag of tax cuts which created a structural deficit in the budget. And then, surprisingly, the good times did not last forever.
Yes, those who cannot remember the past are condemned to repeat it, and we saw this on Monday with the latest mid-year economic and fiscal outlook numbers.
Continue reading...from The Guardian https://ift.tt/2Lq1jFF
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