Leading economic think tank warns there is ‘no capacity’ to borrow more with inflation set to go higher than expected, growth set to plummet and a massive squeeze on spending

In a letter to the Prime Minister, the Tory leader has warned against leaving it to 'the next generation to pay' for reforms.

Leading economic think tank warns there is ‘no capacity’ to borrow more with inflation set to go higher than expected, growth set to plummet and a massive squeeze on spending