Britain’s Budget woes illustrate the threat to Europe’s social contract
Many governments have not come clean with voters about the growing fiscal strains on the welfare state
Many governments have not come clean with voters about the growing fiscal strains on the welfare state

No party looks truly ready to confront tax-resistant voters with some hard questions

Reassessing taxes and spending every six months introduces excessive policy uncertainty

Weak buffers and poor support undermine the Office for Budget Responsibility

The chancellor must initiate lasting reforms to raise revenue and cut costs

The chancellor’s failure to drive growth and cut spending leaves future levy rises on the cards

Voters are particularly disillusioned with what they say is UK’s ‘broken social contract’