Press Release

IFS Green Budget 2006

Date: 25 January 2006

The Chancellor of the Exchequer would need to raise taxes by around £2½ billion to get the public finances back onto the path he was hoping for in last year's Budget - even if he carries out the £8½ billion of spending cuts he has tentatively pencilled in for the 2007 Comprehensive Spending Review, according to forecasts by economists at the independent Institute for Fiscal Studies in the 2006 Green Budget.