The Institute for Fiscal Studies (IFS) criticised the manifestos of both main parties, saying they leave voters “guessing” and casting their ballots in a “knowledge vacuum”. It also accused Nigel Farage's Reform UK party and the Greens of poisoning the debate around the painful economic decisions ahead with what it described as unattainable pledges on tax.
The next government faces a stark choice between making tax rises beyond what it promises in its manifesto, cutting spending, and increasing borrowing, the think tank warned. Paul Johnson, the director of the IFS, said it would be "a considerable surprise if no other taxes are increased over the next five years", and that none of the main parties are facing up to the difficult choices ahead.
"We've called this a conspiracy of silence, and that has been essentially maintained,” he said. "Regardless of who takes office, they will soon face a stark choice: raise taxes by more than they have told us in their manifesto, implement cuts to some areas of spending, or break their fiscal rules and allow debt to rise for longer. That is the trilemma. What will they choose?
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Netanyahu's actions suggest he isn't interested in peace
One year on from the invasion led by Hamas terrorists that has been called the greatest trauma in Israel's history, in which 1,200 Israelis were killed and more than 200 taken hostage, Benjamin Netanyahu's government claims sudden success.
Nketiah has big aspirations back home in south London
Eberechi Eze ambles over to take the free-kick and as he does so, Eddie Nketiah scans his surroundings.
New case could transform transfer market like Bosman
Lassana Diarra is arguing Fifa rules breach EU labour laws
Carsley envisages 'creative' plan to combine star trio
England boss wants to play Palmer, Foden and Bellingham
Maguire salvages point for United in Portugese thriller
Super sub Harry Maguire’s stoppage-time header saved Manchester United’s blushes and potentially Erik ten Hag’s job as the Europa League clash with Porto ended in a thrilling 3-3 draw.
There is a big if when it comes to interest rate cuts...
Andrew Bailey, governor of the Bank of England, said in an interview that the Monetary Policy Committee (MPC) could be \"a bit more activist\" in bringing rates down.
Delhi police seize record cocaine haul worth £640m
Delhi police have seized over 560kg of cocaine worth more than 65 billion rupees 643m) on the international market.
CIA reaches out to recruit agents in despotic regimes
The US Central Intelligence Agency has launched a new drive to hire potential spies in China, Iran and North Korea after a similar successful campaign to recruit Russians.
Nato chief visits Kyiv amid major Russian drone attack
Russian forces have launched a major drone attack on 15 Ukrainian regions, causing damage to energy infrastructure, residential buildings and schools.
Can war in the Middle East be won by military might?
Mike Crofts examines the balance of power across the region