Wednesday, 22 February 2017

Finally some good news on the deficit

No doubt Mrs May will arrange for a planted question in the Commons later today, and Brexiteers will proclaim it as the first fruits of the government decision to invoke Article 50, but the OBR gave us all a pleasant surprise with the January out-turn figures. It seems to me that the only way that Brexit could have influenced the figures is through increased exports as a result of the fall in the value of sterling since June. If so, the boost will be temporary. In any case, I hope the Chancellor does not give anything away in the spring budget now that things are finally going in the right direction.

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