{"id":18803,"date":"2026-07-29T01:42:56","date_gmt":"2026-07-29T01:42:56","guid":{"rendered":"https:\/\/8657085.xyz\/?p=18803"},"modified":"2026-07-29T01:42:56","modified_gmt":"2026-07-29T01:42:56","slug":"burnham-has-no-scope-to-increase-borrowing-think-tank-warns","status":"publish","type":"post","link":"https:\/\/8657085.xyz\/?p=18803","title":{"rendered":"Burnham has no scope to increase borrowing, think tank warns"},"content":{"rendered":"<p> <div style=\"display: grid; grid-template-columns: 300px 160px; gap: 2px; width: 460px; background: #eee; padding: 2px;\">\r\n\r\n  <!-- \u6574\u884c\u5bbd\u5e7f\u544a -->\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876674\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"grid-column: 1\/-1; width: 460px; height: 90px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876676\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u5de6\u4fa7\u7ad6\u6392 -->\r\n  <div style=\"height: 250px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876672\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  <div style=\"height: 500px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876680\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n\r\n  <!-- \u53f3\u4fa7\u6469\u5929\u697c\uff08\u548c\u5de6\u4fa7\u5b8c\u5168\u5bf9\u9f50\uff09 -->\r\n  <div style=\"grid-row: 3\/5; height: 750px; background: #ccc; display: grid; place-items: center;\">\r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e2\" data-zoneid=\"5876678\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n  <\/div>\r\n  \r\n  <script async type=\"application\/javascript\" src=\"https:\/\/a.magsrv.com\/ad-provider.js\"><\/script> \r\n <ins class=\"eas6a97888e6\" data-zoneid=\"5876682\"><\/ins> \r\n <script>(AdProvider = window.AdProvider || []).push({\"serve\": {}});<\/script>\r\n<\/div><br \/>\n<\/p>\n<div>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\"><b class=\"ssrcss-1xjjfut-BoldText e5tfeyi3\">Prime Minister Andy Burnham will have to raise taxes or cut spending to meet his pledges on defence and the cost of living, a major think tank has said.<\/b><\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Burnham has announced a series of new measures since assuming office last week, including cuts to electricity bills and bringing the bus fare cap in most parts of England back down to \u00a32.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">But the National Institute of Economic and Social Research (Niesr) warned the public finances will continue to be squeezed by more persistent inflation as a result of the Iran war.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">It questioned whether Burnham had &#8220;fully thought through&#8221; how his promises would be paid for, but said the prime minister will have to raise taxes or cut spending elsewhere.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Stephen Millard, Niesr&#8217;s deputy director for macroeconomics, said: &#8220;There&#8217;s clearly no scope for increasing borrowing, so it is about choices.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Labour&#8217;s manifesto pledge was to not increase taxes for working people &#8211; including income tax, VAT and national insurance contributions &#8211; which Burnham has said he will uphold.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Millard said Niesr was advocating for cost-of-living measures to be funded through higher taxes \u2013 &#8220;which could involve tax reform rather than higher marginal rates&#8221; \u2013 or spending cuts.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He said: &#8220;People have talked a lot about the welfare bill \u2013 that is an obvious place to look.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;The triple lock on pensions, that is very, very expensive, and will get more expensive as we age.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">He also pointed to potentially reforming council tax to move towards a land value tax system, or scrapping some VAT exemptions.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;Once you&#8217;ve done all of that, then I&#8217;m afraid I would break the manifesto promise and would be looking at the income tax rate.&#8221;<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Niesr also said on Wednesday it expects inflation to keep rising until February 2027, peaking at 3.8% before falling back to the Bank of England&#8217;s 2% target.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The think tank said in its latest economic outlook that it does not believe the central bank will cut interest rates until 2028.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">Its Director David Aikman said that &#8220;treading water is not enough&#8221; to prevent the national debt from rising.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;Every major shock this century has ratcheted the debt ratio higher, and none of that increase has been reversed,&#8221; he said.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">The Treasury said the government will stick to its fiscal rules while investing in &#8220;the public services people rely on&#8221;.<\/p>\n<p class=\"ssrcss-1q0x1qg-Paragraph e1jhz7w10\">&#8220;Fiscal discipline is the bedrock of economic stability and national security,&#8221; a spokesperson said.<\/p>\n<\/div>\n<p><!-- \u603b\u5bb9\u5668\uff1a\u6700\u5927\u5bbd908px Grid\u7d27\u51d1\u5e03\u5c40 -->\r\n<div style=\"display: grid; grid-template-columns: 728px 160px; gap:2px; width:908px; background:#eee; padding:2px;\">\r\n\r\n  <!-- \u901a\u680f\u9876\u90e8\uff1a\u6700\u5927\u6a2a\u5e45 908x258 \u8de8\u6574\u884c -->\r\n  <div style=\"grid-column:1\/-1; height:258px; background:#ff6b6b; display:grid; place-items:center;\">\r\n    <!-- JuicyAds v3.0 -->\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async src=\"https:\/\/poweredby.jads.co\/js\/jads.js\"><\/script>\r\n<ins id=\"1114307\" data-width=\"908\" data-height=\"258\"><\/ins>\r\n<script type=\"text\/javascript\" data-cfasync=\"false\" async>(adsbyjuicy = window.adsbyjuicy || []).push({'adzone':1114307});<\/script>\r\n<!--JuicyAds END-->\r\n  <\/div>\r\n\r\n  <!-- \u7b2c\u4e8c\u901a\u680f\uff1a728\u00d790 \u901a\u680f -->\r\n  <div style=\"grid-column:1\/-1; 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