Go to the Globe and Mail homepage

Jump to main navigationJump to main content

AdChoices

Report on Business

Economic Insight

Delving into the forces that shape our living standards
for Globe Unlimited subscribers

Entry archive:

In Britain, a small group of high earners pay most of the tax bill Add to ...

Subscribers Only

There is not much money, so we shall just have to manage as best we can.

That was pretty much the message from Philip Hammond, the new man in charge of the U.K. Treasury, delivering his Autumn budget statement. No one expected good news with Brexit looming in the background (except a few hysterical Europhobic Tory MPs) and he duly obliged with a hideous prognosis of a widening public sector deficit and soaring government borrowing.

Report Typo/Error

Follow us on Twitter: @GlobeBusiness

Also on The Globe and Mail

Borrowing up, growth down for Brexit Britain (Reuters)

Next story

loading

In the know

The Globe Recommends

loading

Most popular videos »

Highlights

More from The Globe and Mail

Most popular