By Chris Dorrell Rachel Reeves may have to raise taxes by £25bn in the Budget if she wants to improve the delivery of public services, the influential Institute for Fiscal Studies (IFS) said today. Although the Chancellor looks set to reform the fiscal rules to enable more borrowing for investment, Reeves has committed to meet day-to-day spending out of tax revenue. This means the challenges for public service funding – challenges which were well publicised before the election – will remain whatever Reeves decides on the fiscal rules. “The new Chancellor is committed to increasing investment s…