Budget: 'Higher spending will require higher taxes,' new chancellor warned A study suggests it would be fiscally responsible for the chancellor to raise more in taxes to help offset big spending increases.

A study suggests it would be fiscally responsible for the chancellor to raise more in taxes to help offset big spending increases.

The new chancellor will have to raise taxes if the government's plan to "level up" the country is to be financially responsible, according to a study.

The report, by the Resolution Foundation think tank, found Rishi Sunak's budget on 11 March had the potential to take the government's total managed expenditure above £1tn a year for the first time by 2023-24 after a decade of austerity.

It said that £100bn of extra capital spending - for major infrastructure projects and...
source: The Sky News

2020-02-24 14:14
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