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ICAEW responds to October 2020 public sector finance figures

Commenting on the latest public sector finance figures for October 2020, published today by the Office for National Statistics (ONS), Alison Ring MBE FCA, ICAEW Public Sector Director, said:

“The Government continued spending heavily during October, although at a slower rate than in previous months. Fortunately, ultra-low borrowing costs mean that the Chancellor will not have to worry about having to plug the fiscal hole with next week’s Spending Review. Instead the focus should be on how the Government can put in place building blocks for economic recovery. 

“The long-delayed National Infrastructure Strategy will be key, as will proposals to reform government operations to make them more effective. Ministers must be hoping that recent positive news on vaccines will allow the focus in 2021 to change from providing emergency life-support for the economy to ‘building back better’.”

 

Media enquiries

Please direct all media enquiries to:

Jude Obi

Senior Media Relations Executive, ICAEW

T: +44 (0)207 920 8553 or +44 (0)7917 530 747
E: jude.obi@icaew.com