Any delaying of tough decisions by John Healey at the Budget is “not the right approach”, a leading economic think tank has said as it urged the Chancellor to raise some £8 billion in taxes to rebuild his halved fiscal buffer.
The Resolution Foundation called for the Budget on October 28 to hike taxes – including on pensioners – to plug the financial headroom that it predicted has dropped from £24 billion to as little as £12 billion because of the Middle East war, as well as to provide support targeted at those struggling most with the cost of living.
