Fresh analysis reveals £20bn gap between government spending and tax receipts, says Institute for Fiscal Studies

Fresh analysis that reveals a hole of almost £20bn in the public finances will heighten the pressure on the chancellor, Philip Hammond, ahead of next month’s budget.

Britain is on track for the deficit – the gap between government spending and tax receipts – to reach £36bn by 2021-22, more than twice the initial official forecast of £17bn, according to the Institute for Fiscal Studies (IFS).

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