IFS analysis raises questions over the effectiveness of some of the chancellor's new £30bn package to boost the battered economy.
Rishi Sunak faces a tricky task in spending new money earmarked to help the economy recover from the pandemic as the total taxpayer bill climbs to £190bn, a respected think-tank has said.
The Institute for Fiscal Studies suggested rewards for employers to bring workers back after furlough - a scheme that could cost up to £9bn - might even be wasted as most would probably have come back in any case. It also said there were question marks over how much could be delivered by programmes to fund energy efficiency and jobs for young people.In addition, the analysis cast doubt on whether the VAT cuts for the hospitality sector had come too early and a stamp duty holiday until next March should last longer.
Underlying such concerns was the balancing act between preserving some of the economy as it is and accepting the transition to a"new normal" in the wake ofSeparate analysis, by the Resolution Foundation, said that the chancellor's latest plan"risks falling short" of what is required.
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