Budget tax rises may be ‘fiscal fiction’ as pain delayed for election year, IFS warns

Labour MPs welcome scrapping of two-child benefit cap but worry about hefty future tax increases on constituentsRachel Reeves has been warned that her plans for tax rises and spending restraint in the run-up to the next general election resemble a work of “fiscal fiction”, as MPs expressed concern about the impact of her budget on their constituents.A day after the chancellor’s statement, the Institute for Fiscal Studies (IFS) said Reeves had chosen a high-risk strategy by back