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Tax hikes will come if economy shrinks any further, IFS warns Rachel Reeves
- The Institute for Fiscal Studies warns that tax hikes will occur if the economy continues to shrink, citing poor GDP statistics.
- Council tax bills are projected to rise by 5% annually, marking the fastest increase since 2001-05, reflecting government expectations.
- Johnson criticized Labour leader Rachel Reeves for misleading claims about the economy, stating she offers no useful information.
- The IFS chief indicated there is no longer room for massive public sector pay increases, foreshadowing potential union disputes.
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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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Coverage Details
Total News Sources23
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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