The Institute of Fiscal Studies has urged the Chancellor Rishi Sunak not to increase taxes in the forthcoming Spring Budget. However, IEA Director General Mark Littlewood went further by suggesting the government should give “British businesses assurances that tax hikes are not inevitable in the longer term”.

Mark Littlewood made the case that the UK is at its “taxable limit” and “public finances are going to need to be repaired by expenditure reductions not tax rises”.

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