Jun 14: Watchdog forecasts ‘softening up’ measure for cuts

Chris Giles, the FT’s economics editor, speaks to Richard Edgar about the findings from the new and independent Office for Budget Responsibility. He says that the Conservatives are trying to soften the UK up for cuts that were coming anyway but that weren’t revealed during the election campaign, that he expects to see tax rises in the upcoming budget, and that the public finance repair job is slightly bigger than expected.