Faisal Islam: No tax rises and no return to austerity but will it last?

“Definitely not a Budget” is the basic message emerging from the Treasury about Wednesday’s economic statement.
There will not just be no red box outside Number 11, there will only be a “thin book” of new policies with a “light scorecard” of measures with no further tax rises.
So what is the point of this Spring Statement?
It is principally a spring forecast from the government’s official forecasters the Office of Budget Responsibility (OBR). In that process it has had to take into account a slower economy than expected, and higher government borrowing costs.
This OBR forecast has wiped out the room for manoeuvre against the “non-negotiable” rules Chancellor Rachel Reeves has set on government borrowing in the future. She has made a number of further adjustments to keep the numbers on track.

Courtesy: BBC