George Osborne outlined the scale of the economic challenges facing the UK today when delivering his Autumn Statement. The Chancellor was forced to announce that growth forecasts would be significantly lower than predicted earlier in the year, and that he would not achieve his debt reduction targets. Government Departments and welfare bills will face further cuts, while a range of measures intended to spark growth were announced, including increases in capital spending on roads and schools. Read our full analysis of Statement here.
PFI is dead, long live PF2!
HM Treasury also announced its long-awaited plans for a successor to PFI, as well as an update to the Government’s National Infrastructure Plan. Read our analysis of PF2 and the NIP here.