The Chancellor of the Exchequer would need to raise taxes by around £2½ billion to get the public finances back onto the path he was hoping for in last year's Budget - even if he carries out the £8½ billion of spending cuts he has tentatively pencilled in for the 2007 Comprehensive Spending Review, according to forecasts by economists at the independent Institute for Fiscal Studies in the 2006 Green Budget.
Authors
![Carl Emmerson](/sites/default/files/styles/square_desktop/public/2022-06/Carl_Emmerson.jpg?itok=6jM06LTY)
Deputy Director
Carl, a Deputy Director, is an editor of the IFS Green Budget, is expert on the UK pension system and sits on the Social Security Advisory Committee.
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
Robert Chote
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
Rupert Harrison
![Person graphic](/sites/default/files/styles/square_desktop/public/2022-06/IFS-person-graphic.png?itok=hWCtTSrz)
David Miles
Press Release details
- Publisher
- IFS
More from IFS
Understand this issue
![Ariel view of an English town](/sites/default/files/styles/square_desktop/public/2024-06/english%20town%20feature.jpg?itok=ri4Ol6m1)
Cuts to council services likely unless cost pressures abate – even with the biggest council tax increases for 20 years
21 June 2024
![Carl Emmerson](/sites/default/files/styles/square_desktop/public/2022-06/Carl_Emmerson.jpg?itok=6jM06LTY)
IFS Deputy Director Carl Emmerson made a Fellow of the Academy of Social Sciences
4 March 2024
![Alistair Darling](/sites/default/files/styles/square_desktop/public/2023-05/Alistair-Darling.jpg?itok=Sr4H34cK)
Statement on Alistair Darling's passing
4 December 2023
Policy analysis
![Ambulance and police car](/sites/default/files/styles/square_desktop/public/2024-06/Ambulance-and-police-car.jpg?itok=RMgHb2lX)
Main parties’ manifestos tell us little about the funding individual public services would actually receive
23 June 2024
![Westminster](/sites/default/files/styles/square_desktop/public/2024-06/Westminster-in-fog_3.jpg?itok=X49vnzB5)
14 years of missed opportunities – big tax challenges remain unaddressed
10 June 2024
![Houses of parliament](/sites/default/files/styles/square_desktop/public/2024-06/Parliament-aerial-view.jpg?itok=WBjGvfcK)
Size of the state has grown over this parliament and is likely to remain permanently bigger than pre-pandemic
9 June 2024
Academic research
![Itay Saporta Eksten](/sites/default/files/styles/square_desktop/public/2024-01/image1.jpg?itok=D8wz6lHt)
Itay Saporta Eksten visits IFS
31 January 2024
![Banque de France](/sites/default/files/styles/square_desktop/public/2023-11/Banque-de-France.jpg?itok=Wz9v_2a0)
IFS co-organises Paris-London Public Economics Conference 2023
24 November 2023
![Imran Rasul](/sites/default/files/styles/square_desktop/public/2022-08/Imran-Rasul.jpg?itok=8V_L5clA)
Imran Rasul elected as EEA Vice-President
21 November 2023