IFS reacts as Starmer warns of 'painful' autumn Budget

Director of the Institute for Fiscal Studies Paul Johnson said neither party was being honest in the election about raising taxes after Keir Starmer warned autumn's Budget would be "painful." "They've said they won't increase income tax, national insurance, VAT or corporation tax.

Three-quarters of our tax revenue comes from those four taxes and if they're not going to raise those, it leaves them with a very limited number of options," Mr Johnson said.

Report by Kennedyl.

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