Tax cuts would put ‘scary’ UK finances in greater danger, warns top economist

Paul Johnson, of the Institute for Fiscal Studies, issues plea for honesty from Labour and the Conservatives about tax and spending choices ahead of election

Unveiling significant tax cuts before next year's general election would put Britain's scary" public finances in further peril and risk the nightmare scenario of even higher interest rates, one of the country's most influential economists has said.

Paul Johnson, director of the Institute for Fiscal Studies, also made a plea for honesty from both main parties over the profound tax and spending choices they would face should they win power.