Andy Burnham has been warned that he will have to raise taxes or cut spending if he wants to fund his new priorities, in a grim analysis by one of the UK’s leading economic think tanks.
Economists at the National Institute for Economic and Social Research (NIESR) caution the prime minister and new chancellor John Healey that “there is no capacity to borrow any more” and that inflation will push up the cost of living much higher than the Bank of England (BoE) is forecasting.
