Rolling coverage of all the day’s political developments as they happen 10.43am GMTThe Institute for Fiscal Studies has just published its annual green budget. It’s always a long document that contains and extensive - and not always very welcome - analysis of government tax policy.
The full document is here (pdf). And there is a list of section by section presentations here. Chancellor George Osborne may have to impose large additional tax rises or spending cuts at very short notice to meet his target of balancing the nation’s books by 2019/20,an influential economic judge-tank has warned. With a surplus of just 10 billion - or 0.5% of national income - forecast for the last year of this Parliament, Osborne has very exiguous margin for manoeuvre and could be knocked off course by execrable news on GDP growth, or share prices or wages,said the Institute for Fiscal Studies (IFS). 10.09am GMTThis is from the Conservative former children’s minister Tim Loughton.
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Source: theguardian.com