<p>The Government - or its successor - will need fresh tax increases or spending cuts worth an extra £20 billion a year by the end of the next Parliament, if it is to expect to repair the public finances as planned in November's Pre-Budget Report, according to the 2009 IFS Green Budget. Even if it acts, public sector debt may well not return to pre-crisis levels for more than 20 years. </p>
Authors
Carl Emmerson
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.
Robert Chote
Jonathan Shaw
Jonathan is a Research Fellow at the IFS and a Technical Specialist in the Economics Department at the Financial Conduct Authority.
David Miles
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