A Treasury borrowing binge is ‘unsustainable’ – but it'll probably still happen

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The IFS has advised the chancellor Rishi Sunak that he will have to raise taxes to avoid breaking his fiscal rules. In which case expect No 10’s ‘stooge’ to start ripping up the rulebook, says James Moore

The Institute for Fiscal Studies has laid out three options for, the man whose official title is chancellor of the exchequer but for whom the word “stooge” has often been used, given the current official fiscal rules he’s supposed to be operating under going into the Budget.

 

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WILL happen? Have you not seen the already unprecedentedly high level of national debt? We spend five times as much each year on national debt interest as we sent the EU. And Tory govts ALWAYS borrow more and repay less than Labour govts. But hey, Brexit - and we - got done.

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