Osborne May Need More Cuts to Achieve U.K. Surplus, IFS Says

  • Tax revenue may be lower than forecast, forcing fresh measures
  • Osborne is boxed in by 'Inflexible' budget-surplus target

U.K. Chancellor of the Exchequer George Osborne may be forced to cut spending further or raise taxes should the fiscal outlook deteriorate if he is to meet his goal of achieving a budget surplus by 2020, the Institute for Fiscal Studies said.

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