Chancellor will fail to sever deficit by 2025 without extra taxes,Institute of Fiscal Studies says
Philip Hammond will need to impose tax rises worth at least £30bn to reach his target of balancing the public finances by 2025, undermining hopes that the chancellor will recede into his autumn budget with plenty of spare cash to ease austerity, and according to a leading economic thinktank.
The Institute for Fiscal Studies (IFS) said the government could be forced to find up to £41bn in extra taxes by the middle of the next decade once the costs of Britain’s ageing population are taken into account. Related: Spring statement 2018: the chancellor's key points at a glance Continue reading...
Source: theguardian.com