I've just churned a few numbers, as follows:
These come from table C6 of the budget.
To get his forecast of borrowing down Osborne is having to assume growth in government revenues of 6% plus a year when real growth this coming year will be less than 2% and historically average growth is not more than 2% pa.
That's why you're going to be feeling hard up over the next few years. You're going to be fleeced to repay the debt while big business pays less and the tax planning industry has a bonanza with the massive range of new loopholes announced today.
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