File photo dated 29/01/17 of money and bank cards in a wallet, as the UK tax burden is set to rise to its highest level for 30 years under Chancellor Philip Hammond’s plans, despite continuing cuts in public services, according to an influential economic think tank. PRESS ASSOCIATION Photo. Issue date: Tuesday February 7, 2017. And the austerity regime of tax rises and spending cuts is set to continue well into the 2020s, thanks to Mr Hammond’s decision in the wake of the Brexit vote to scrap George Osborne’s target of balancing the nation’s books by 2019, said the Institute for Fiscal Studies. See PA story POLITICS IFS. Photo credit should read: Yui Mok/PA Wire