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term spendingBBC
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81% Informative
Institute for Fiscal Studies calculates how much extra money needed to meet pre-election promises.
Government has promised no return to austerity for public services and boost to investment.
But to honour those commitments the chancellor will need to “grasp the nettle” and come up with 16bn more on top of 9bn tax rises set out in Labour manifesto.
IFS says additional investment may need to be financed through higher taxes.
Government has said it will publish a 10-year infrastructure strategy next spring .
Housing and schools will be key economic infrastructure, IFS said.
The strategy will be overseen by a new body, which it said would "get a grip on the delays to infrastructure delivery".
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