GENERICO.ruEconomicsThe media warned of difficulties ahead for the new British government

The media warned of difficulties ahead for the new British government


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MOSCOW, May 25. The next UK government will have to face the most difficult problem of filling the state budget in 70 years, Bloomberg reports, citing data British Institute for Fiscal Studies (IFS).
“The challenge awaiting the winner (of the election – ed.) is greater than those that have faced any other government since at least the 1950s… Whoever wins will face high debts, high interest rates rates and low growth rates,” the agency writes.
As the agency writes, the IFS believes that in order to fill the budget, the new UK government will have to either decide on “painful” cuts in spending on public services, or raise taxes, which are already close to an almost 80-year high, or take out new loans and in this case, fail to complete the task of stabilizing the level of public debt.

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