IFS says worst of UK spending cuts yet to come
The Institute for Fiscal Studies (IFS) has said that the worst of the UK's spending cuts are still to come.
Its Green Budget, which looks at options and issues ahead of next month's Budget, says the UK's finances still have "a long way to go".
To meet plans announced in last year's Autumn Statement departmental spending cuts of £51.4bn, or 14.1%, are needed in the next parliament, the IFS said.
Cuts in the current parliament are expected to reach £38.3bn, or 9.5%.
The IFS said that over the next four years the UK is planning the largest fiscal consolidation out of 32 advanced economies.
It would mean public spending falling to its lowest share of national income since at least 1948, and fewer people working in the public sector than at any time since at least 1971.