Economics

U.K. Faces Historic Squeeze Without More Borrowing, IFS Says

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Rishi Sunak
Photographer: Hollie Adams/Bloomberg

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By David Goodman

March 10, 2022 at 12:01 AM UTC

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Chancellor of the Exchequer Rishi Sunak is facing a choice between borrowing billions more or consigning households and workers to an historic incomes squeeze, according to the Institute for Fiscal Studies.