UK Needs £60 Billion Public Spending Cuts, IFS Says

The UK government will need to cut at least £60 billion ($66.7 billion) in spending to keep debt in control, according to think tank the Institute for Fiscal Studies (IFS).
It comes after the government announced an uncosted £65 billion ($72 billion) energy support package and £45 billion ($50 billion) worth of tax cuts along with parts of its plans to boost economic growth.
Chancellor of the Exchequer Kwasi Kwarteng is expected to announce his medium-term fiscal plan to reduce debt as a percentage of GDP on Oct. 31, together with forecast from the Office for Budget Responsibility (OBR).
In an analysis published on Tuesday, the IFS said the chancellor will need to make more than £60 billion of spending cuts just to stabilise debt as a percentage of GDP in the year 2026–27….