UK Politics

Next UK government faces biggest debt challenge since 1950s – report

Prime Minister Rishi Sunak and Chancellor Jeremy Hunt have for months dropped hints about tax cuts featuring in the spring Budget in March

City of London skyscape - UK economy is suffering stagnation and high debt levels

Sluggish economic growth and high national debt will leave the next UK government facing one of the bleakest fiscal challenges since the 1950s, experts have warned.

Whichever party wins the election this year may be unable to fund existing public services if politicians are not transparent about the trade-offs they face, according to an Institute for Fiscal Studies (IFS) report.

Prime Minister Rishi Sunak and Chancellor Jeremy Hunt have for months dropped hints about tax ...