Resolution Foundation says ‘misguided’ cuts contain turned goal of budget surplus by 2020 into a Herculean taskGeorge Osborne’s latest tax cuts for the wealthy will leave him with a Herculean task of reducing borrowing by £32bn to meet his budget surplus rule in 2019-20, according to the Resolution Foundation.
A string of giveaways in the next couple of years will increase government borrowing above his previous forecasts and force him to find £32bn of tax rises and spending cuts in the final year of the parliament.
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Source: theguardian.com