In last week’s Budget speech, the Chancellor referred to the lower “underlying” measure of government net debt rather than the higher “headline” measure. You’d be forgiven for thinking he did that just to put the spotlight on the lower measure. But the underlying measure does actually send a clearer signal of how the Chancellor’s policies are influencing the level and trajectory of government net debt.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services