London-based Institute for Fiscal Studies said ahead of the budget later this month that Chancellor John Healey must raise about £35bn to deliver Labour’s ambitious spending plans. The IFS added Healey may have more fiscal headroom than expected, but the plans’ credibility is at risk; unless the government intervenes, inf will squeeze public spending and leave departments underfunded. IFS director Helen Miller said: If you want to increase spending and do not want to cut public services, you mus

London-based Institute for Fiscal Studies said ahead of the budget later this month that Chancellor John Healey must raise about £35bn to deliver Labour’s ambitious spending plans. The IFS added Healey may have more fiscal headroom than expected, but the plans’ credibility is at risk; unless the government intervenes, inf will squeeze public spending and leave departments underfunded. IFS director Helen Miller said: If you want to increase spending and do not want to cut public services, you must consider tax rises.