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Home Publications Tax rises and spending cuts will hurt, but little room for Budget easing

Tax rises and spending cuts will hurt, but little room for Budget easing

Press release

The IFS Green Budget forecast is that the Government will need to borrow slightly less in 2010-11 (£2.9 billion) than the Office for Budget Responsibility (OBR) forecasts. But this is in the context of a deficit which we expect to be at £145.6 billion this year. Having set out his fiscal consolidation plan, it is important that Chancellor George Osborne resist the temptation to engage in any significant net giveaway in the Budget.