Rachel Reeves has set herself a trap with self-imposed fiscal rules that could force her into tax hikes and deeper spending cuts as the economy deteriorates, a top think tank has warned.
The chancellor’s rules around borrowing have left Britain’s economic policy “entirely exposed” to global changes and could force her into major tax and spending decisions at this month’s Spring statement, previously billed as a non-event, the Institute for Fiscal Studies (IFS) said.
