The British Institute for Financial Studies (IFS) warned that the sharp rise in prices following the American war and occupation against Iran created a major challenge for John Haley, the British Chancellor of the Exchequer, in formulating his first budget.

The British Institute for Financial Studies (IFS) warned that the sharp rise in prices following the American war and occupation against Iran created a major challenge for John Haley, the British Chancellor of the Exchequer, in formulating his first budget.

According to this think tank, higher-than-forecast inflation can reduce the real value of the budget dedicated to public services and force the government to decide between spending cuts, tax increases, or a combination of both.

The Institute for Financial Studies demands that the government provide reliable budget plans and not predict the reduction of expenses for the coming years, which it does not intend to implement, in order to present a balanced budget.

The British Treasury declined to comment on what it called "rumors and speculation."

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