IFS urges delay to cuts and tax rises

By Michael Burton | 13 October 2020

Spending cuts and tax rises to rebalance the public finances should be delayed until 2022 to allow the economy to recover, the Institute for Fiscal Studies (IFS) has said.

Warning that the economic challenges associated with COVID were ’likely just beginning’ and that public services outside health ‘could well be facing a further bout of austerity’ the report nonetheless backed extra spending now due to the low cost of borrowing.

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