Dear Chancellor. Please don’t raise taxes in your Budget next month. And also; please, Sir, can we have some more – economic support?
That’s the polite request from think tank Institute for Fiscal Studies, which is calling on Rishi Sunak to use his Budget on 3rd March to deliver a targeted extension of government support.
Why do we need this additional support? Well, it’s to tackle what the IFS calls a “triple challenge” to the economy – Brexit, Covid, and climate change.
Rather than raising taxes in the Budget, the IFS wants Sunak to focus on supporting the UK’s economic recovery from lockdown.