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Tax Reforms Essential State IFS

The Institute for Fiscal Studies have undermined Chancellor Philip Hammond's Spring Statement during which he suggested that the UK economy is on track for future stability and increased levels of growth. The IFS argue that tax rises of up to £40bn are urgently required to address shortfalls in government spending, and that the growth prospects of the UK economy remained the worst of all of the G20. With consumer incomes not substantially higher (and in many cases significantly lower in real terms) than they were before the 2008 financial crisis, the article attempts to evaluate how the shortfall in social care, health and pensions can be resolved and the solutions do not make for comfortable reading. [Click on image to read full article]

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