The Tories have failed to fix the roof –and now storms are brewing | Larry Elliott
by Larry Elliott from on (#2WC18)
The budget watchdog has warned over the threats debt, recession and Brexit pose to the UK's finances
It was one of George Osborne's most effective soundbites. Before, during and after the 2010 general election, the man who served as David Cameron's chancellor for six years blamed his austerity measures on Labour's failure to "fix the roof while the sun was shining".
What goes around comes around. The Office for Budget Responsibility was set up by Osborne in 2010 to keep tabs on the state of the public finances free from the clutches of politicians and has now published its first report into the long-term fiscal risks facing Britain.
Related: UK public finances face twin threat from Brexit and downturn, says OBR
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