Tax hikes vital to meet govt spending promises, says IFS

This comes as chancellor Rishi Sunak - who replaced Sajid Javid on 13 February - finalises policy proposals ahead of delivering his first Budget after just 27 days in office. The IFS has labelled Sunak's Budget as "the most significant fiscal event in years" and said the new government would struggle to deliver on its promises without hiking taxes. Follow all PA's Budget 2020 coverage here Reports have continued to circulate about a potential cut to pensions tax relief for high earners from 40% to 20% to "equalise" the system - a proposal which has faced strong Conservative oppositi...