NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap Rachel Reeves will ...
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NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap
Rachel Reeves will need to raise taxes to close a government spending gap that is on course to reach more than £40bn after a slowdown in economic growth and higher-than-expected inflation, according to a leading thinktank.
In a blow to Labour’s hopes of balancing the books without breaking manifesto commitments ruling out personal tax rises, the National Institute of Economic and Social Research (NIESR) said a number of factors would knock off course the chancellor’s plans to stay within Whitehall spending limits.
Continue reading...Source: Guardian - World News
