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Hedge Fund
BlueBlog: Budget
November 2022 - Hedge Fund
The problem with budgets is that they have to balance, which left the Chancellor sitting between the proverbial rock and a hard place. On the one side we have inflation, which means the welfare state needs more money. We also have a huge bill for all things Covid with estimates topping £400 billion for all that fiscal and monetary stimulus.
On the other side we cannot borrow any more, as interest rates are a lot higher than they used to be. Betting on growth was an unmitigated disaster, so the o