IFS: Limited Room for Tax Cuts or Spending Due to High Debt and Weak Growth

IFS warns no room for tax cuts or spending rises before election due to high debt and weak growth

Tax burden rising significantly, with 4.5 million more people paying higher income tax by 2028 due to frozen thresholds

Pre-election tax cuts could prove unsustainable and lead to a recession as interest rates rise further

Poor growth and high debt interest mean debt stuck near 100% of GDP despite tight budgets and tax hikes

NHS workforce plan alone could cost £50bn per year long-term, adding to fiscal pressures from social care and other areas