The Institute for Fiscal Studies has claimed that it is likely that taxes will rise in the UK as the public will demand higher public spending on health and social care after the pandemic.

However, IEA Research Fellow Julian Jessop argued that tax rises are not inevitable because the UK economy could bounce back stronger than expected.

Jessop argued: “If the economy does rebound as strongly as I expect, and the public finances continue to beat the forecasts of the Office for Budget Responsibility, we’ve got a good chance of getting through this crisis without the need to raise taxes”.

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