No chance of a return to Groundhog Day

摘要

There will be numerous local authority finance directors who,having looked at last week’s gloomy economists’ prognoses onthe future state of the public finances, fear they might be stuck inGroundhog Day.After a decade dominated by austerity we are back where westarted with a deficit potentially even greater than its peak back in2009/10 just before the start of the Coalition Government’s spendingcuts. All that pain – and so little gain.