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UK budget think tank warns future PM against big tax cuts

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Reuters UK

By David Milliken LONDON (Reuters) – Britain’s next prime minister will not have room to make large, permanent tax cuts, the Institute for Fiscal Studies said on Thursday, challenging the plans of the two Conservative candidates vying to succeed Boris Johnson as prime minister. Foreign Secretary Liz Truss wants to reverse more than 30 billion pounds ($36 billion) of recent and upcoming tax rises from her rival, former finance minister Rishi Sunak, who says he wants to cut taxes once inflation is under control. However, the IFS – sometimes seen as an unofficial arbiter of government spending pl…

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