IFS warns Healey's 28 October Budget risks being "work of fiction" over £35bn gap

The Institute for Fiscal Studies warned Chancellor John Healey's 28 October Budget risks being a "work of fiction" unless he details how to cover £35bn in spending pressures. In its green budget report, the IFS said unrealistic spending envelopes would undermine credibility against Labour's rule to balance day-to-day spending by 2029-30. Markets will judge whether the plan adds up.