IFS says Osborne faces tough choices to hit deficit target

Thinktank's 'green budget' says the chancellor may have to cut spending or raise taxes to reach surplus by 2019-20

George Osborne could be forced to raise taxes or increase his public spending cuts if he wants to hit his target of turning Britain's budget deficit into a surplus by the end of the parliament, the Institute for Fiscal Studies has said.

The UK's leading thinktank on public finances said a weaker-than-expected growth performance or over-optimistic forecasts for tax receipts might mean the chancellor has to make unpopular decisions.