Warning comes after Rachel Reeves’s record tax-raising budget sent tremors through financial marketsRachel Reeves has been warned an extra £9bn of tax rises may be required to avoid a fresh austerity drive in key public services as her record tax-raising budget sent tremors through the financial markets.Threatening to undermine the chancellor’s claim that her budget would restore economic stability to Britain, government borrowing costs rose sharply in the City on Thursday as traders turned on Reeves’s tax and spending measures. Continue reading…
Source link : https://www.theguardian.com/politics/2024/oct/31/ifs-says-extra-9bn-of-tax-rises-may-be-needed-to-avoid-uk-public-service-cuts
Author : Richard Partington and Jessica Elgot
Publish date : 2024-10-31 19:56:49
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IFS says extra £9bn of tax rises may be needed to avoid UK public service cuts
