2min chapter

IFS Zooms In: The Economy cover image

The Spring Budget Explained

IFS Zooms In: The Economy

CHAPTER

Is There a Big Tax Rise in the Budget?

The government's spending plan was left broadly unchanged, going about 1% per year in real terms. There was a bit of extra money for defense, and there was some extra money for the high profile childcare announcements. But it remains very difficult to see how you can have a bigger pay award than what departments have said is affordable without providing any extra cash.

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