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 No chance" of tax rises to wipe out Budget deficit

IFS director Paul Johnson says Philip Hammond has “no chance” of getting tax rises through Parliament and will have to abandon his target for balancing the books. He told BBC Radio 4’s Today programme that although “there is a case for increasing taxes a bit,” the government’s weak political position rules this out as a possibility. The Independent’s leader, meanwhile, says the chancellor is planning a “tax raid of major proportions” on pension perks, IHT and CGT. Elsewhere, the FT reports that Mr Hammond has warned his cabinet colleagues he will not break his fiscal rules to increase public spending.
Source: The Independent (31/10/17)

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