The government should not cut taxes in the upcoming Budget, unless it can spell out how it will afford them, a leading think tank has warned.
The chancellor has hinted he would like to lower taxes in what could be the last Budget before a general election.
But the Institute for Fiscal Studies (IFS) said the case for tax cuts was “weak”.
But the Institute for Fiscal Studies (IFS) said the case for tax cuts was “weak”.
But both Jeremy Hunt and Rishi Sunak have made no secret of wanting to reduce the taxation burden on the general public. Last month Chancellor Hunt hinted that he was looking at trimming public spending as a way to deliver tax cuts.
However, the IFS said the chancellor should not go ahead with them, without providing specific details of where the axe would fall.
Any tax cuts “should wait” until the chancellor was able to do a detailed spending review, the think tank said.
“We don’t think we should be implementing certain tax cuts now, essentially that are paid for by uncertain spending cuts that might never be delivered,” IFS deputy director Carl Emmerson said.
The government should not cut taxes in the upcoming Budget, unless it can spell out how it will afford them, a leading think tank has warned.
But the Institute for Fiscal Studies (IFS) said the case for tax cuts was “weak”.
The chancellor has hinted he would like to lower taxes in what could be the last Budget before a general election.
But both Jeremy Hunt and Rishi Sunak have made no secret of wanting to reduce the taxation burden on the general public. Last month Chancellor Hunt hinted that he was looking at trimming public spending as a way to deliver tax cuts.
But the Institute for Fiscal Studies (IFS) said the case for tax cuts was “weak”.
But the Institute for Fiscal Studies (IFS) said the case for tax cuts was “weak”.
But both Jeremy Hunt and Rishi Sunak have made no secret of wanting to reduce the taxation burden on the general public. Last month Chancellor Hunt hinted that he was looking at trimming public spending as a way to deliver tax cuts.
However, the IFS said the chancellor should not go ahead with them, without providing specific details of where the axe would fall.
Any tax cuts “should wait” until the chancellor was able to do a detailed spending review, the think tank said.
“We don’t think we should be implementing certain tax cuts now, essentially that are paid for by uncertain spending cuts that might never be delivered,” IFS deputy director Carl Emmerson said.
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