The next government will have to introduce a £100bn programme of tax hikes and spending cuts to repair public finances, claims an economic think-tank. The Centre for Economics and Business Research (CEBR) predicted a new Conservative Government would introduce £20bn of tax rises and £80bn of spending cuts. Whereas, if the Labour Government was re-elected the CEBR forecasts there would be £40bn in tax rises and £60bn in spending cuts. These would be made to get the budget deficit down to £50bn by 2014/15.
