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More austerity as Treasury faces £20bn black hole

Accountancy Age

THE CHANCELLOR faces plugging a £20bn black hole in the public purse as official government economic forecasts. As a result, an additional year of public spending austerity may be required in order to balance the UK’s books. The models, produced by the Office for Budget Responsibility, suggest the government should refrain from relying on an economic recovery to cover the shortfall, the Financial Times reports. The news comes just 12 days…

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