IFS analysis: A hard Brexit is most likely to create recession after general election

The video discusses the potential economic impacts of Brexit, particularly under Conservative leadership, and the challenges of adjusting to new economic policies. It highlights the lack of funding in the Conservative manifesto and the gradual rise in tax burden. The video also explores potential changes in taxation if Labour wins, including increases in corporate taxes and the complexity of implementing these changes.

What is a potential risk associated with a no-deal Brexit under Conservative leadership?

• Higher employment rates

• Increased risk of an economic downturn

• Increased economic growth

• Lower taxes

What historical period is referenced to illustrate the impact of significant economic policy changes?

• The 1990s

• The 1980s

• The 2000s

• The 1970s

What is a criticism of the Conservative manifesto mentioned in the transcript?

• Increased regulation

• High corporate taxes

• Lack of funding for commitments

• Excessive spending on social care

How might Labour's victory affect corporate taxes?

• Corporate taxes will be abolished

• Significant increase in corporate taxes

• No change in corporate taxes

• Decrease in corporate taxes

What is a potential outcome of evening up taxation on unearned and earned income?

• No impact on the tax system

• Welcome change with potential revenue challenges

• Simplified tax system with more revenue

• Increased complexity with no revenue change