# Burnham’s ex-adviser says he risks Truss-style crisis if public spending is not slashed – and calls Budget plans for a £2bn tax raid on banks ‘delusional’

- URL: https://talkfuse.com/story/burnhams-ex-adviser-says-he-risks-truss-style-crisis-if-public-spending-is-not-slashed-and-calls-budget-plans-for-a-2bn-tax-raid-on-banks-delusional/
- Published: 2026-10-23T23:53:15+00:00
- Updated: 2026-10-24T00:24:49+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16234699/Burnhams-adviser-risks-Truss-style-crisis-public-spending-slashed-Budget-2bn-tax-raid-delusional.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Culture, Fashion, Government, Politics, World

## Key points

- Haldane says spending cuts are needed to avert a fiscal crisis.
- He warns Britain is close to its borrowing and tax limits.
- He says a £2bn bank tax could be passed on to customers.

## Summary

Former Bank of England chief economist Andy Haldane has warned that the Government risks a crisis resembling Liz Truss’s if it fails to cut public spending in the Budget. He said delaying difficult decisions could weaken public confidence and damage the economy, amid what he described as a precarious fiscal position.

Haldane argued that Britain is close to its limits on taxation and borrowing, and urged the Government to reduce taxes and the size of the state to support growth. He also criticised a proposed £2 billion tax increase on banks, saying customers and businesses could bear the cost. Barclays reported quarterly profits of £2.3 billion, up 12 per cent, while the bank surcharge on corporation tax currently stands at 3 per cent.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.