It's 3p On Tax to Bail Out Brown, Says Think-Tank

Evening Standard - London › January 26, 2005

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Summary

TAXES will have to rise by at least Pounds 11 billion to pay for the Government's spending plans and get the public finances back onto a sound footing, Chancellor Gordon Brown was warned today.

With tax revenues failing to bounce back as hoped and the public finances sliding deeper into the red than planned, the Institute for Fiscal Studies (IFS) said the Chancellor is on course to miss his Golden Rule - to borrow only to invest over the economic cycle. That means Brown will have little choice but to raise taxes after the general election.

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It's 3p On Tax to Bail Out Brown, Says Think-Tank

"To put the public finances back on a path as strong as the Treasury aimed for in the 20...

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