Tax cut 'gamble' will make debt unsustainable, says Institute for Fiscal Studies
Carl Emmerson, deputy director at the IFS and an author of the research, said the government's tax cutting plans meant borrowing would remain high, even after the cost of subsidising energy bills had fallen away, adding to overall debt.
The sums indicated by the IFS are staggering. No doubt the government will argue they do not take into account their growth plans, but the government rejected the OBR offer to bring out an official forecast. While some of this is down to the spending on energy, much is down to the forecast increase in borrowing from permanent tax cuts.
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