Report: IFS: budget will be ‘work of fiction’ without clear plan to cover UK spending pressures

The Guardian — World has covered a development concerning “Report: IFS: budget will be ‘work of fiction’ without clear plan to cover UK spending pressures,” with the available account limited to the facts included in the supplied text.

Thinktank’s influential pre-budget report urges key decisions to be made now and not put off until next year John Healey has been raised concerns about by Britain’s leading tax and spending experts that his budget risks being a “work of fiction” unless he sets out intends to cover £35bn in spending pressures. The report also notes that As the war in the Middle East rattles the public finances, the Institute for Fiscal Studies (IFS) stated the damage from higher inflation meant the chancellor would need to either top up funds for his current government spending plans or impose deep real-terms cuts by the end of the decade.

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