End of austerity? Hammond 'would need £19 BILLION to keep Theresa May's cuts promise'

THERESA MAY’S promise to end austerity will only be possible if Chancellor Philip Hammond raises £19 billion from increased taxes, extra borrowing or exceeded growth, a new report from the Institute for Fiscal Studies has claimed. British taxpayers are being told such an increase by the Chancellor would be the equivalent of one penny on income tax, National Insurance and VAT to meet the Prime Minister’s previous pledge.

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