UK Faces Tough Economy Despite Tax Cut Hopes
• UK faces economic challenges not seen since 1950s - high debt, weak growth to make tax cuts difficult • IFS warns next government will have limited scope to cut taxes or increase spending • Interest costs dropped due to lower inflation, but debt reduction will be tougher than past decades • Chancellor Hunt hints at tax cuts in spring budget to boost growth • Labour plans £28bn annual green energy spending by 2027, Conservatives say it requires tax hikes