Chancellor dangers financial ‘doom loop’ if spending cuts proceed, ex-BoE chief economist warns

Chancellor Rachel Reeves dangers coming into an financial "doom loop" if she continues to chop spending, a former Bank of England chief economist has warned.

Andy Haldane, who was with the Bank for 32 years till 2021, stated the Office for Budget Responsibility’s (OBR) forecast in March may result in much less funding and spending.

Read extra: https://news.sky.com/story/rachel-reeves-risks-economic-doom-loop-if-spending-cuts-continue-ex-bank-of-england-chief-economist-warns-13294316

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