Sky News reports:

Rachel Reeves will need to find more than £40bn of tax rises or spending cuts in the autumn budget to meet her fiscal rules, a leading research institute has warned.

The National Institute of Economic and Social Research (NIESR) said the government would miss its rule, which stipulates that day to day spending should be covered by tax receipts, by £41.2bn in the fiscal year 2029-30.

A 'trilemma' is blamed for this shortfall:

The deteriorating fiscal picture was blamed on poor economic growth, higher than expected borrowing and a reversal in welfare cuts that could have saved the government £6.25bn.

But no mention of the other 'trilemma':

• Funding uncontrolled immigration
• Funding the weapons for Ukraine to kill Russians
• Trump's capricious tariffs

While the press gleefully claim that the Russian economy is buckling under unprecendented sanctions they seem to forget that the UK and German economies are also in the tank - and that's without any sanctions.

Bonkers!