UK - a future that doesn't work (IFS)
UK borrowing is likely to be £64bn higher in 2014-15 than forecast in 2010, according to a closely watched report.
The Institute for Fiscal Studies (IFS) says a weak economy will mean the government has to borrow more than it forecast, unless it imposes tax rises and further spending cuts.
Public service spending could fall by a third by 2018, the IFS said.
The cuts could also lead to the loss of about 1.2 million public sector jobs.
Paul Johnson, IFS director, said the chancellor was "allowing borrowing to increases substantially in this Parliament... whilst promising another dramatic dose of public spending cuts in the next Parliament".
As a result, currently "protected" departments, such as health, education, and overseas aid, could also find themselves facing budget cuts after the next general election.
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Glasgow Bookfair
RED AND BLACK CLYDESIDE BOOKFAIR
The CWO will have a stall at the Red and Black Clydeside Bookfair, there will also be an NBWCW meeting.
When: Saturday, 7 December 2024
Where: Quaker Meeting House, 38 Elmbank Cres, Glasgow G2 4PS
Belfast Bookfair
BELFAST RADICAL BOOKFAIR
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When: Saturday, 30 November 2024
Where: Peter Froggatt Centre (3rd Floor), 7-9 College Park E, Belfast BT7 1PS
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