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 ACCOUNT OPENING FORM for NON INDIVIDUALS 01 03 08 2020-2025

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I'm Paul Johnson I'm director of The Institute for fiscal studies and I'm delighted to be bringing you our analysis of yesterday's announcements um there were an awful lot of announcements I'm going to talk about a bit of the headline stuff in my opening remarks and three of my colleagues will be going into some more detail in their presentations I have to say inevitably we can't get into everything in anything approaching a sensible amount of time so if there are questions that we don't cover do please ask about them in the slido app um so as ever I will start with some big picture opening remarks this was a budget in which unsurprisingly Rachel Reeves as the first labor chancelor in uh 14 years made some pretty big choices she chose to increase borrowing in order to increase spending on investment or at least to stop it falling as a fraction of national income which is what the previous government had planned indeed they had pla

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