A former adviser to Andy Burnham has warned a key plank of the government’s economic plan does “not work” as he urged ministers to protect the Treasury’s “headroom” in next week’s Budget.
Andy Haldane, a former chief economist at the Bank of England, said now was not the time to run down what he described as the UK’s “insurance cover”, given high borrowing costs and the risks facing the economy due to the ongoing impacts of the Iran and Ukraine wars.
