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UK chancellor facing £25b hit to UK budget, says IFS

Mr Hammond has insisted that the goal of erasing the deficit has been postponed, not abandoned.


UK Chancellor of the Exchequer Philip Hammond is facing a £25 billion (S$43.2 billion) hole in the public finances following the Brexit vote, the Institute for Fiscal Studies warned.

Diminished growth will result in £31 billion of lost tax revenue, only partially offset by a...

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