US EditionTax hikes will come if economy shrinks any further, IFS warns Rachel Reeves
- The Institute for Fiscal Studies warns Rachel Reeves that further bad economic news will almost certainly lead to tax hikes.
- Ruth Curtice indicated that without economic growth, tax increases are likely in autumn as the Chancellor aims to balance the budget.
- Paul Johnson remarked that council tax will see its fastest increase in 20 years, rising up to 5 percent due to funding gaps.
- Curtice stated that low and middle-income families have benefited from the spending review despite previous tax rises and welfare cuts.
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WTX NewsRachel Reeves 'a gnat's whisker' from having to raise taxes, says IFS
The chancellor pledged tens of billions of pounds to the NHS, transport projects, the defence budget and more in her spending review - but attention has already started turning towards her next fiscal event as the economy continues to struggle.
·United Kingdom
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Total News Sources22
Leaning Left4Leaning Right4Center7Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 27%
C 47%
R 27%
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