The magic money sofa

Quote of the day goes to Robert Chote, Chairman of the official (and independent) fiscal forecaster for the UK.

Talking about the £27bn windfall the Chancellor received at the Autumn Statement and the risk of revisions to forecasts of future Exchequer revenues, he said:

The lesson is that what the sofa gives, the sofa can easily take away. And the sums lost or gained have often been much larger than they were [the previous] November.