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2 September 2024updated 12 Sep 2024 3:04pm

Rachel Reeves has been handed a fiscal lifeline

The Office for Budget Responsibility has altered its models to factor in the benefits of public investment. That opens up space for the Chancellor.

By Steve Coulter

This article was originally published as an edition of the Green Transition, New Statesman Spotlight’s weekly newsletter on the economics of net zero. To see more editions and subscribe, click here.

The Chancellor sounded furious as she told the House of Commons what Treasury officials had found in an audit of public spending. Running through commitments the previous government made, she said over and over, “If we cannot afford it, we cannot do it.”

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