The IFS has produced one of its characteristically insightful analyses of the UK’s fiscal situation in the run-up to the General Election. Much of it is familiar territory, covering the large rise in taxes of recent years, taking us to levels seen previously in the late 1980s.
It also notes the work still to do in eliminating the deficit. Although, at under 3 per cent of GDP, it is back in the “normal” range, it is still a bit higher than one would like, given how long it’s been since the last recession. Nor does it provide us with much scope …read more
Source: CapX