DEVELOPING: IFS Warns Rachel Reeves Against Rushed Tax Fixes in Budget

BREAKING NEWS: IFS Warns Rachel Reeves Against Rushed Tax Fixes in Budget Chancellor Rachel Reeves is facing pressure to avoid "directionless tinkering" and "half-baked fixes" when trying to boost the government's tax take in next month's Budget, according to a leading think tank. The Institute for Fiscal Studies (IFS) has warned that some tax rises could be "especially economically harmful". The Treasury has confirmed that Reeves will have to raise tens of billions of pounds through either increasing taxes or cutting spending to meet her self-imposed rules. Reeves' two main rules are: not to borrow to fund day-to-day public spending by the end of this parliament and getting government debt falling as a share of national income. Analysts estimate that Reeves will have to raise tens of billions of pounds in order to meet these rules. The IFS warning comes as pressure mounts on Reeves to strike the right balance between funding public services and encouraging growth and investment. The Treasury has said that the Budget will aim to achieve this balance, but the IFS is urging caution against rushed tax fixes. This is a developing story, with further details expected in the coming days. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Bbc.*