Next month’s Budget should allocate more funding for local government, health and education while a revamped and higher council tax should replace stamp duty, says a report from the Institute for Fiscal Studies.
In its analysis the IFS says public finances ‘are on an unsustainable path’ which must be addressed but not in next month’s Budget. It says Chancellor Rishi Sunak has set aside ‘a sizeable’ £55bn pot for public services if COVID-19 pressures emerge this year which should be used to plug shortfalls in spending.
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