Gov’t limit on borrowing broken

Sajid Javid is poised to break his first promise as chancellor by raising government borrowing above limits set in the Conservative manifesto, a leading think-tank has said.

The Resolution Foundation said before Javid’s spending review next week that he stood to break his fiscal rules governing how much the country should borrow by ramping up spending in the runup to Brexit.

The chancellor, in a move that has stoked intense speculation of a snap election, would use a spending round announcement this coming Wednesday to meet the pledges made by the prime minister, Boris Johnson, for higher spending on health, schools and police.

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