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Budget 2021: strip away pandemic largesse and UK is banking on recovery with no extra public spending

By Steve Schifferes, Honorary Research Fellow, City Political Economy Research Centre, City, University of London
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What a difference a year makes. In March 2020, the chancellor of the exchequer, Rishi Sunak, announced an emergency budget pledging £12 billion to tackle coronavirus. One year later, the government has already spent £280 billion, and spending by spring 2022 will exceed £400 billion.

The 2021 budget – perhaps the most widely leaked in history – contains a cornucopia of short-term measures, such as the extensions to the furlough…

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