OBR calls for continued austerity as UK fails 'stress test'

Public borrowing could spiral in years to come, warns Treasury watchdog

Phillip Hammond
(Image credit: Oli Scarff/Getty Images)

The Treasury's official watchdog has warned the government not to "easily concede" to the public's "austerity fatigue", reports the Daily Telegraph.

Releasing its fiscal report, the independent Office for Budget Responsibility (OBR) said public borrowing could spiral in the coming years and that the economy would fail if subjected to the sort of "stress tests" regulators use for big banks.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up