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November 2020 Spending Review

THE ECONOMIC DAMAGE OF COVID–19

Chancellor declares “economic emergency”.

Had everything gone to plan this year, the Chancellor would have been delivering his Autumn Budget speech. Instead, Rishi Sunak declared an “economic emergency” alongside a slimmed down spending plan to see him through until spring.

Nobody in government would privately claim there is any way to avoid tax rises at some point, but the Chancellor stopped short of announcing any of that in his speech to a handful of MPs in a socially-distanced House of Commons.

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