Tax Must Rise by 6p in Pounds 1 to Cut Borrowing, Warn Experts
Western Morning News, The › April 30, 2010
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Summary
Taxes could rise by six pence in the pound over the next ten years to slash public borrowing, an economic forecaster has warned.
Although cuts and a public sector pay clampdown will halve the UK's deficit over the next five years, the National Institute for Economic and Social Research (NIESR) said more action is needed to reduce borrowing to below 3 per cent of GDP by 2020.See the full content of this document
Extract
Tax Must Rise by 6p in Pounds 1 to Cut Borrowing, Warn Experts
"We assume it is achieved through income taxes rising by an equivalent of six pence in the pound...
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