Insights from the UK and beyond
Vows by Labour and the Conservatives to protect the NHS from spending cuts will require tax hikes or cuts to other areas, a new report shows.
Promises to “ring-fence” health spending in the lead-up to the next election — to be held before June — might lead to cuts of about 8 percent in other departments over the next six years, say researchers at the King’s Fund and the Institute for Fiscal Studies.
Alternatively, sizeable tax hikes could be in store as the next government tries to tackle the largest public deficit since the Second World War.
The deficit, forecast to rise to 175 billion pounds this year, has put public spending at the forefront of political debate.