<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 Emmerson

    Deputy Director

    Carl, a Deputy Director, is an editor of the IFS Green Budget, an expert on the UK pension system and sits on the Social Security Advisory Committee.

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    Robert Chote

    Jonathan Shaw
    Jonathan Shaw

    Research Fellow Financial Conduct Authority

    Jonathan is a Research Fellow at the IFS and a Technical Specialist in the Economics Department at the Financial Conduct Authority.

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    David Miles

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