Here is what the page “IFS warns John Healey budget risks being 'work of fiction' without plan for £35bn spending” contains. The Institute for Fiscal Studies (IFS) has warned Chancellor John Healey that his upcoming budget could be a 'work of fiction' unless he outlines how to cover £35 billion in spending pressures. In its influential pre-budget report, the thinktank highlights that higher inflation, partly driven by the war in the Middle East, has eroded the value of existing departmental budgets. Without additional funding, unprotected departments face deep real-terms cuts by the end of the decade.
The IFS urges the government to make key decisions now rather than deferring them to next year, stressing that clarity on tax and spending is essential for credible fiscal planning. The warning comes as the Treasury prepares its first budget under the new Labour government, with public services already stretched. The full version stays on the original page, which this listing opens directly.