Experts predict £6bn tax increase

Press Association
George Osborne
George Osborne

The Government could be forced to raise £6 billion in new taxes after the general election in 2015 despite Chancellor George Osborne's latest round of spending cuts, experts have warned.

The Institute for Fiscal Studies think tank said that, despite the £11.5 billion worth of reductions for 2015/16 set out on Wednesday by Mr Osborne, savings of a similar magnitude had already been pencilled in for the following two years.