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Rishi Sunak delivered his Spending Review (House of Commons/PA)

Rishi Sunak delivered his Spending Review (House of Commons/PA)

PA

Rishi Sunak delivered his Spending Review (House of Commons/PA)

Almost 40 years ago Prime Minister Margaret Thatcher said: "Pennies don't fall from Heaven, they must be earned here on Earth."

During the pandemic pennies and pounds of Government spending have been raining down in monsoon proportions.

In yesterday's spending review, a stand-in for a Budget and a more short-term affair than the previously scheduled multi-year comprehensive spending review, Rishi Sunak didn't really explain when and how he is going to unwind the huge increase in borrowing. The Office for Budget Responsibility (OBR) is now forecasting UK Government borrowing for 2020-21 at £394bn.


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