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UK Facing GBP40bn Black Hole In Public Finances

8 April 2009 131 views No Comment
The current Labour government - or its successor - may need to implement further tax increases or cuts in spending plans worth almost GBP40bn a year by 2015-16 if the public finances are to be repaired as quickly as the Chancellor hoped in last year's pre-budget report, according to the Institute of Fiscal Studies.

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