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That means that if the Trump tax cuts amounted to, say, five trillion dollars over ten years (a figure roughly in the middle of expert estimates), they would somehow produce five trillion in offsetting revenues, plus the two trillion dollars from the growth bonus, or seven trillion dollars in total.
Similar(57)
No growth, no bonus.
Pay growth excluding bonuses was 0.9%, up from 0.8%.
Pay growth including bonuses fell by 0.2% between April and June compared with a year earlier.
Regular pay growth excluding bonuses had fallen to 0.6 per cent, down from 1.3 per cent in March.
"The unemployment rate remains at its lowest level in almost a decade and wage growth, excluding bonuses, has ticked up.
Regular pay growth, excluding bonuses, was 2.2% in the three months to February compared with the same period a year earlier.
In a further blow to the government's efforts to keep the economy growing strongly, wage growth including bonuses fell from 2.1% in January to 1.8%.
Wages growth including bonuses was even lower 2%, but jumped 2.5% in the more volatile month-on-month figure to April.
But other sectors, such as IT and communication services – including marketing, advertising and PR – contributed more to growth as bonuses at non-financial companies rose 5.4% to £30.4bn.
Annual earnings increased by 1.8% in the year to April, down by 0.6% on the previous month, largely because of lower growth in bonuses in private firms.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com