DEVELOPING: IFS Warns Rachel Reeves Against "Half-Baked" Tax Fixes in Budget

Breaking News: IFS Warns Rachel Reeves Against "Half-Baked" Tax Fixes in Budget Rachel Reeves, the UK Chancellor, is facing pressure to avoid "directionless tinkering and half-baked fixes" when trying to boost tax revenue in next month's Budget. The Institute for Fiscal Studies (IFS) has warned against such measures. The IFS says Reeves could raise tens of billions of pounds a year more without breaking manifesto promises, but this would not be straightforward. The Treasury confirms the Chancellor will strike a balance between funding public services and encouraging growth. Analysts estimate Reeves must find money to fill a 20bn black hole by increasing taxes or cutting spending to meet her rules. These rules include not borrowing for day-to-day spending by the end of this parliament and reducing government debt as a share of national income. The IFS's warning comes ahead of the Budget, which is expected to raise taxes to meet self-imposed financial targets. The Chancellor has described these targets as "non-negotiable". This is a developing story, with further details and reactions emerging in the coming hours and days. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Bbc.*