Autumn Budget 2021: Faster growth gives Sunak £30bn to invest in public spending - reports

Upgraded growth forecasts due to give Chancellor fiscal room for manoeuvre

Rishi Sunak will use his budget today to insist the UK is entering an economic “age of optimism” as upgraded growth forecasts give the chancellor the chance to unveil extra public spending, according to reports.

Rishi Sunak is expected to use up to £30bn from the proceeds of faster growth to invest in public services and reduce borrowing when he unveils his budget today (27 October), The Times said. Sunak will brandish new official forecasts showing that the UK economy has grown faster than expected this year and that long-term Covid-19 "scarring" of the economy will be less severe than feared, giving him fiscal room for manoeuvre. The economy is now predicted to grow by about 7% this year, the chancellor is expected to say, The Times reports.  This is nearly twice as much as the 4% predicted...