Age of austerity isn't over yet, says IFS budget analysis

Mainly grim news from thinktank, painting a picture of doom and gloom including predictions of a 35bn deficit in 2019-20

Seven years after George Osborne ushered in a tough new age of spending cuts and deficit reduction, the Institute for Fiscal Studies had a grim message for the long-suffering British public yesterday: the age of austerity is not over.

The IFS is to the budget what the pundits are to Match of the Day. It pores over the highlights, dissects why things have gone wrong (and more rarely why they have gone right), and takes delight in telling it the way it is.

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