Tax increase on the cards?

A leading think tank has warned, the Government must raise taxes or risk breaking their own rules.

Chancellor Rishi Sunak is under pressure to increase spending on the NHS, social care and schools. Having inherited a fiscal target from Sajid Javid his predecessor the institute for Fiscal studies has suggested meeting this target will not be possible without a tax increase.

However, the new chancellor is reportedly under pressure to loosen spending constraints the current fiscal target is in serious doubt with the budget set to be announced on March 11.