As the Autumn Budget looms, the papers are in full swing speculating what Chancellor John Healey will hand down on Wednesday. The Times carries a warning from former chief economist at the Bank of England Andy Haldane, telling the Prime Minister Andy Burnham not to “risk a Truss-style budget crisis”, referencing the mini-budget of former Prime Minister Liz Truss which contained unfunded spending pledges, including major tax cuts, precipitating the sacking of ex-chancellor Kwasi Kwarteng, the collapse of the bond markets, and resignation of Truss. Speaking to the paper, Haldane qualifies by saying unfunded spending measures could “crater” the economy, urging Burnham to “take the knife” to public spending.
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