UK Tory Budget Closest to Last Labour Government: Economists

Chancellor Rishi Sunak stands with the Budget Box outside 11 Downing Street in London, ahead of presenting his Autumn Budget and Spending Review to Parliament, on Oct. 27, 2021. Leon Neal/Getty Images

The UK budget is more in keeping with the last Labour government than the previous Tory administration, according to a leading economic think tank.

In its analysis of yesterday’s spending review, the Institute for Fiscal Studies (IFS) said that the measures, which include raising taxes to the highest for 70 years were “almost entirely” unrelated to the pandemic.