"Finally, some good economic news? Tax rises and spending cuts planned for next month could be reined in as falling gas and borrowing costs ease pressure on nation’s finances - but pensions and benefits could still be in firing line.
Chancellor yesterday announced medium term fiscal announcement would be delayed from to November 17
Decision made to allow time to rework the economic plan amid a £40billion black hole in the nation's finances
But analysis has today shown that the two-week delay in the announcement would cut figure by up to £15bn
Forecast has led to confidence in Downing Street that only minor changes will be required to public finances
But the Treasury will still be required to find savings amid fears of rise in old-age pensions to help fill the void
Swingeing spending cuts and tax rises may not have to be as tough as previously feared after a rare improvement in the UK's financial situation.
Rishi Sunak and Jeremy Hunt are said to be considering using falling gas prices and a 'dullness dividend' reaped from financial markets after the change in government to rein in their drastic plans.
A new report today suggests a £40billion black hole in the nation's finances could have shrunk by up to £15billion by the time they present their delayed Autumn Statement on November 17, meaning cuts to public spending could be eased, and tax rises reduced or scrapped altogether."
http://www.dailymail.co.uk/news/article-11359115/Rishi-Sunak-reconsiders-raising-taxes-slashing-public-spending-Jeremy-Hunts-delayed-budget.html
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