Both Tory leadership candidates were forced on Thursday to confront a stark report from economists warning of the danger tax cuts could pose to the public purse.
Frontrunner Liz Truss and rival Rishi Sunak, who have repeatedly clashed over tax cuts and competing visions for the UK economy, were faced with a sobering analysis by the respected Institute for Fiscal Studies (IFS), which warned that “permanent tax cuts” could exacerbate pressures on public spending.
