The Institute for Fiscal Studies (IFS) attacked the Conservative and Labour parties for what it has long called a “conspiracy of silence” over how they could address the issues they highlight, such as cutting NHS waiting lines.
Paul Johnson, the director of IFS, said during the release of his report on the important documents that unless taxes were raised or the government debt continued to climb, spending on many public services would probably need to be reduced during the next parliament.
He denied that manifestos were completely funded, saying the two had a “stark choice” between paying taxes or not.
Mr. Johnson cited pressure brought on by government debt levels at a 60-year high at a period of nearly record taxes.
He said that a large part of the responsibility for this was an increasing welfare budget following the COVID pandemic and the cost of living crisis that followed Russia’s invasion of Ukraine, as well as a £50 billion annual rise in debt interest spending relative to estimates.
