IFS says British Prime Minister Reeves will face "major financial problems" if she fails to achieve her efficiency target

British think tank IFS warned that Finance Minister Rachel Reeves plans to achieve an average annual growth of 1.0% in public sector productivity by 2028/29, and if the plan fails to be implemented, she will face "significant financial problems." This target exceeded the historical average of 0.7% (2009-2019) and 0.2% (1997-2019). Failure to achieve efficiency targets could put pressure on public finances ahead of November’s budget release, as tax increases are expected by then.