Ryan Bridge: How much cash will we get back from tax cuts?
How much cash will we get back from tax cuts?
Nicola Willis will soon an announcement about their timing and potential value, if they get back to the Treasury benches.
The good news out of yesterday's PREFU is that the books are out of structural deficit this year.
That means when the government borrows new money going forward, it will be for capital spending, not to keep the lights on.
We've essentially been borrowing money by issuing bonds to pay for day-to-day spending.
Fixing potholes with a credit card when the cost of borrowing is heading north is not a particularly smart way to run the…
The skinny
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