Parties’ spending pledges under scrutiny on day of missed Budget
Boris Johnson’s plans to increase public spending and cut taxes leave “very little scope” for meeting the Conservatives’ pledge to reduce the national debt, the Institute for Fiscal Studies (IFS) has said.
In a warning to both the Tories and Labour, the IFS said: “Debt cannot go on rising forever.” Both main parties have ripped up recent economic orthodoxy that said spending should be limited and promised a splurge on public services.
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