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IFS delivers tax warning over ‘inconceivable’ cuts
by Daniel Grote on Dec 07, 2012 at 08:36
The next government is likely to be forced into tax rises due to ‘inconceivable’ spending cuts outlined in the Autumn Statement, according to the Institute for Fiscal Studies (IFS).
IFS director Paul Johnson said that if NHS, schools and overseas aid budgets continued to be protected, cuts in other areas would exceed 30% since 2010/11, a level he deemed ‘inconceivable’, according to reports.
‘There are big choices on health and welfare, crucially, surely, including benefits for pensioners still to be made,’ he said. ‘And it is hard to believe that there won’t be more tax rises to come.’
He added that by 2017/18 around 85% of the government’s austerity measures would be delivered through spending cuts, ahead of its target of a 80:20 split between spending cuts and higher taxes.
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by Himanshu Singh on May 19, 2013 at 03:08