Chancellor's looser finance targets highlight weaker UK economy - The Guardian

There was a veneer of discipline in the chancellors handling of the UKs public finances, after he ditched his predecessors strict target of balancing the budget in 2020 with three looser targets to be met in the next parliament.

Philip Hammond opted to set a cap on welfare spending, but only applied the new rule from the 2021/22 financial year. He also said the governments new aim was to bring down debt as a proportion of GDP by 2021, which George Osborne had hoped would happen under his watch.

The targets are more than five years into the future, and confirm it will take three parliaments to nurse the public finances back to health, after it became clear that a weaker economy,