Tuesday April 28, 2009
Britain's new age of austerity
Sean O'Grady
Independent
Huge tax rises and spending cuts: the true cost of the Budget revealed.
A bleak picture of a future Britain once again shamed by its public services was conjured up yesterday as the true cost of fixing the nation's finances emerged from the fog of Treasury statistics.
Whatever the political furore over the 50p tax rate, most of the burden of plugging the £1.3 trillion hole in the nation's coffers over the next decade will fall on the public services, says the respected and independent Institute for Fiscal Studies (IFS).
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