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Milburn report pushed to after budget because there is no money for his recommendations. Defence spending pushed back too. Spending review is going to be a nightmare.

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Excellent chart-filled exploration of why govt bond yields have risen this year, from @chrisgiles.ft.com www.ft.com/content/a616...

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Superb and fascinating chart.

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Lots of good pieces on the ONS productivity stuff over the last week. But I think the really big takeaway is that we should all (including me) be more questioning of the quality of the data when a country is a huge global outlier and there is no obvious reason why it should be.

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