Public spending up by Ā£350 bn this year on 2019
The combination of inflation, a productivity collapse and higher interest rates means public spending is up by Ā£350 bn this year compared to 2019. No wonder taxes are so high. If the public services got their productivity back up to 2019 levels they would cost Ā£30 bn less. Productivity was down 15.2% in 2020,...