IFS: budget will be ‘work of fiction’ without clear plan to cover UK spending pressures

Thinktank’s influential pre-budget report urges key decisions to be made now and not put off until next year John Healey has been warned by Britain’s leading tax and spending experts that his budget risks being a “work of fiction” unless he sets out plans to cover £35bn in spending pressures.

As the war in the Middle East rattles the public finances, the Institute for Fiscal Studies (IFS) said the damage from higher…