which is on track to hit the highest level in half a century. the bbc understands he is considering a further cut to national insurance but a decision won t come until later this week. we spoke to carl emmerson from the ifs he said the chancellor is in a difficult position. the challenge is for the chancellor, indeed whoever is chancellor after the election, we have weak growth and high spending on debt interest, and high spending on debt interest, and yes, there has been a big interest in taxes since 2019 and the chancellor has pencilled in plans which imply pretty big spending cuts in the next parliament, and despite all of that, he has got government doubt stable at about five years time so the public finances are in a precarious state, and tax cuts could boost growth but they will not pay for themselves and we think tax cuts should only be announced if the chancellor is able to say which spending cuts he will do to pay for them. , ., , , ., ., them. the problem is th
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