What does the spring budget mean for UK fiscal policy?

After a tumultuous autumn for economic policy, and against a backdrop of soaring inflation and an unprecedented cost of living crisis, Jeremy Hunt will deliver his first budget on March 15. On the following day an IfG event featuring Richard Hughes, chairman of the Office for Budget Responsibility, assessed the chancellor’s statement.

What does the budget reveal about this government’s approach to economic and fiscal policy? How will the economic and fiscal outlook shape the general election campaign? What do the government’s public spending plans look like – and are they plausible? And what are the strengths and weaknesses of the rules that help shape the government’s fiscal plans?

To explore these questions and more, our expert panel included:

Stephen Bush, columnist and associate editor at the Financial Times
Nick Davies, programme director at the Institute for Government, lead author of the Institute’s Performance Tracker of public services performance.
Richard Hughes, Chair of the Office for Budget Responsibility
Gemma Tetlow, Chief Economist at the Institute for Government

The event was chaired by IfG director Hannah White.

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