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IFS says extra £9bn of tax rises may be needed to avoid UK public service cuts

By The Guardian   |   Oct 31, 2024 at 04:02 PM EST
IFS says extra £9bn of tax rises may be needed to avoid UK public service cuts

Rachel Reeves faces potential need for an additional £9bn in tax rises to prevent austerity, as her budget raised concerns in financial markets. Despite IMF support, government borrowing costs surged, impacting interest rates and the pound. Economists question if her tax and spending measures can stimulate growth and stabilize public finances.

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