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Brown warned over £11bn black hole

The chancellor will have to raise £11 billion a year extra in taxes if he is to avoid breaking his own rules on public debt and borrowing, according to respected independent analysts.

Casting doubt on Gordon Brown's tax revenue forecasts is the Institute for Fiscal Studies' "green budget", which calculates he is going to fall £6.5 billion short of his golden rule.

Published: Thu, 27 Jan 2005 07:37:10 GMT+00