Labour will have to raises taxes yet further to maintain the UK's current level of public spending if it wants to avoid adding to the UK's already huge debt mountain, experts warned today.
Martin Mikloš, the IFS' research economist, said: 'Countries can and do make very different choices about the size of their state – but choosing a higher level of spending without a commensurately higher level of taxation is not costless and is unlikely to be sustainable in the long term.' Labour leader Sir Keir said the Conservatives' 'obsession with wild, unfunded tax cuts' crashed the economy.
'I was right then but I am also right now when I say that his economic policies would be a disaster for Britain.'
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