The Institute for Fiscal Studies (IFS) criticizes Labour and Conservatives for lack of transparency on financing public spending in their election manifestos.

Both parties are avoiding tough decisions on tax increases, leaving the public uninformed about public finance challenges.

The next government, likely Labour, will face tough choices on raising taxes, cutting spending, or breaking fiscal rules to manage debt.

Despite ruling out major tax increases, there are concerns about future funding for public services.

IFS warns of a 'knowledge vacuum' and stresses the importance of an informed electorate as voters prepare for the July 4 election.