Tax rises will follow UK election unless fiscal rules are ripped up, says thinktank

Niesr says current limits on government borrowing fail to stimulate growth and hinder net zero ambitions

The next government will be forced to hit voters with post-election tax rises and delay net zero investment unless it is prepared to rip up Treasury rules for managing the state finances, a leading thinktank has said.

The National Institute for Economic and Social Research (Niesr) called for a radical overhaul of the self-imposed constraints imposed on government borrowing and debt as it warned that persistently weak growth and lower inflation would make hitting the rules more difficult.