Chancellor faces finding £60bn of spending cuts to fund mini-budget, IFS warns

The IFS Green Budget found that the amount the government is set to pay on debt interest is set to rise in the next couple of years to the highest level, as a percentage of national income, since at least the late 1940s.How might the government balance the books?

Moreover, Citi said that the higher interest rates faced by consumers in their mortgages would also dampen economic growth in the coming years. "The specifics of the UK government's fiscal strategy are under more scrutiny by financial markets than at any point in the recent past. The chancellor should not rely on over-optimistic growth forecasts or promises of unspecified spending cuts. To do so would risk his plans lacking the credibility which recent events have shown to be so important.

But the same would apply to his recent package of tax cuts. He should not apply that argument asymmetrically."

Source: Loan Digest (loandigest.net)

EdConwaySky

EdConwaySky Cut back on Mps expenses, cut back on the House of Lords, cut back on staff at Westminster cut back on Mps salary cut back on Royals then we will fill 2 black holes and get rid of the country debt thay are bleeding this country dry not the poor corruption starts at the top

EdConwaySky Never as so much of our money been wasted by so few and to put us in more debt mental

Why do you quote the IFS they are a bunch of extreme right wing activists not economic experts. Tufting street have got you in their grip and you don’t care.

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