Tax Reform should be high on the Government’s agenda, to support long-term growth

The Latest Green Budget from the Institute of Fiscal Studies suggests that the case for a significant short-term fiscal stimulus to boost the economy is stronger than it was a year ago.

The IFS Green Budget suggests that even relative to major planned cuts, Whitehall departments will underspend by more than £3 billion this year.

It is suggested that borrowing could be £9 billion lower in 2016-17 than the official forecast.

However the report suggests that the Chancellor has little scope for a significant permanent fiscal loosening relative to current plans.

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