"IFS Challenges Jeremy Hunt to Justify Tax Cuts Amid Financial Planning Concerns"
The Institute for Fiscal Studies (IFS) has cautioned against tax cuts in the upcoming UK Budget unless the government can clearly outline how they will be funded, citing a weak economic case for further cuts. The IFS emphasized the need for detailed spending reviews before implementing tax reductions and suggested reforming stamp duty as an alternative. With political pressure mounting ahead of a potential general election, the government faces criticism from various quarters, including the Office for Budget Responsibility and the International Monetary Fund, while the Treasury maintains its commitment to meeting fiscal rules and increasing departmental spending.
