Tax cut ‘gamble’ will make debt unsustainable, says IFS
The Institute for Fiscal Studies says UK borrowing is on an “unsustainable” path. …
The £100bn figure is equivalent to around 3.5% of national income, which is high in historical terms. In the 60 years before the financial crisis, borrowing averaged 1.9% of national income, the IFS said.The fluctuating wholesale price of energy means the cost of government subsidies for households, public bodies and private firms, is hard to estimate.
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