Britanija

The UK government can raise taxes

The government will be forced to borrow £ 63 billion, or £ 23 billion more, in the next financial year than projected in the latest government report.

Published

4 m. ago

2020 vasario 26

Admin

The UK Institute for Fiscal Studies (IFS) has warned that the country’s new Treasury Chancellor, Rishi Sunak, will have to choose between raising taxes or breaking government borrowing rules when presenting this year’s budget.

Borrowing £ 63 billion

The government will be forced to borrow £ 63 billion, or £ 23 billion more, in the next financial year than projected in the latest government report.

IFS is proposing to increase budget revenue by alternative means, including lifting the fuel tax freeze, which would add £ 4 billion to government revenue, with the approval of the national parliament alone.

The new budget will announce the tax and spending plans that the government intends to collect for the coming financial year,

Related Topics:Britain Britanija taxes uk

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