Taxes in UK might be increased by 60 billion pounds to balance the books: Institute for Fiscal Studies
Image Credit: Shortpedia
According to the Institute of Fiscal Studies, the government in UK may have to increase the taxes by about 60 billion pounds ($84 billion) if it wants to balance the books. "More likely, we are on track for ongoing unsustainable deficits. A reckoning in the form of big future tax rises is highly likely, but not as yet inevitable," said Paul Johnson, director of IFS. Chancellor of the Exchequer Rishi Sunak faces a fresh challenge.