February 15, 2021

Andrew Campbell 

UK’s Institute for Fiscal Studies (IFS) and Citi Research has analyzed for its government.  It suggested that the UK government increase tax by £60bn to improve the finance after the pandemic.

One of leading think tanks also indicates the tax rise may just meet the balance with the daily expense. Moreover, the analysis from Citi Research points out the borrowing from £50bn to £190bn will be necessary even in 2024.

As part of the short-term solutions, IFS claims Rishi Sunak, the UK chancellor, should consider applying his March budget to fasten the economical recovery. IFS also states that the chancellor ought to prepare for the possibilities of tax rises and avoid long-term increase of expense.

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