Andy Haldane gives Budget four out of ten and warns fiscal risks remain
Andy Haldane told BBC News's Political Thinking that the Budget merited four out of ten and that fiscal credibility and borrowing risks remain.
How it was covered
- BBC News was the only channel found covering it, concentrating on Haldane's four-out-of-ten Budget verdict and unresolved fiscal credibility risks.
- Channel 5, BBC One, Channel 4, GB News, ITV and Sky News: not found in tracked broadcasts.
The Full Story
A plain summary built from the channels that reported this story. Facts only one channel reported are attributed to it.
On BBC News's Political Thinking, Andy Haldane gave the Chancellor's Budget a score of four out of ten. The former chief economist of the Bank of England, now president of the British Chambers of Commerce, said the Budget had slightly more spending and slightly more tax but nothing that gave greater confidence that debt and deficits could be brought down.
According to BBC News, Haldane said the Office for Budget Responsibility had revised deficits and debts upwards. He called the Budget a holding manoeuvre and said the UK remained in a position of acute fiscal precarity.
BBC News reported that Haldane said the risk of a Liz Truss-style borrowing crisis remained after the Budget. Borrowing costs had not risen but had not come down since the Budget, he said. He added that the market's attention was currently on France, and that the US and Italy were in a worse position on pure debt and deficit measures, but that the spotlight could move to the UK.
According to BBC News, Haldane said he wanted the Chancellor to put more insurance in place by maintaining fiscal headroom as a rainy day fund for the government.
BBC News reported that Haldane said he could not thank the Chancellor for changing his view that the government was a socialist tax-and-spend administration. He said the Chancellor had taxed a bit more, spent a bit more and borrowed a bit more, and he wanted more evidence of fiscal discipline.
Key Claims
Claims reported during this story's coverage, grouped by how many channels reported each one. Select a dot to see the source excerpt.
| Claim |  |
|---|---|
| Only on one channel | |
| Andy Haldane rated the Budget 4 out of 10 and warned it did not improve confidence in reducing debt and deficits, leaving a Liz Truss-style borrowing crisis risk. | |
Channel Perspectives
What each channel focused on, with key quotes.
BBC News's Newscast carried an extended Political Thinking interview with Andy Haldane, making his verdict the centre of the coverage. It focused on his four-out-of-ten score, his claim that the Budget was a holding manoeuvre, and his warning that fiscal credibility and borrowing risks had not been resolved. The tone was analytical and direct, with a light Strictly Come Dancing judging device used to elicit the score.
- “I think this is, I think this is around a four, Nick.”
- “We remain in a position of, I would say, quite acute fiscal precarity at this moment.”
- “That remains. You see that in borrowing costs.”
Who was on air
People and organisations each channel put on air while covering this story. Channels' own presenters and reporters are not listed. Names as transcribed, and the list can miss people.
- 20:31 GMT
Andy Haldane, former chief economist of the Bank of England, now the president of the British Chambers of Commerce
Newscast · Sun 1 Nov
Broadcast Timeline
News broadcasts tracked for this story, in time order.