No-deal Brexit would 'push national debt to levels last seen in 60s'

IFS says public borrowing will more than double next year whatever the Brexit result

Emergency tax cuts and higher public spending to offset the impact of a no-deal Brexit would send government debt to its highest level in more than half a century, according to Britain's leading experts on the public finances.

The Institute for Fiscal Studies (IFS) said the scale of the government response required to firefight a flatlining economy in the event of a disorderly departure from the EU would come with a hefty price tag for the public purse.

The government is now adrift without any effective fiscal anchor