The IFS has published their latest data showing the state of the economy (HERE). They are now forecasting that the £10bn surplus that George Osbourne had planned for 2019-20 will now be a £15bn deficit. In other words we will be £25bn worse off by 2020.
I seen to remember the government had said before the vote we would be £40bn worse off, so the IFS thinks we will be slightly better than this but I think it is the beginning of the vindication for the Treasury and other forecaster who all said we will be unable to finance even the reduced £100m per week the leavers said we would have. In fact, what the new figures show is that the NHS will be worse off by £500m per week - assuming the government chose to cut spending by the same amount.
I don't see this number being painted on the side of many buses.
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