By William Schomberg

LONDON (Reuters) -British finance minister Rachel Reeves should use her budget in November to carry out a long overdue reform of the taxation system which could help her to raise more revenue while limiting the hit to the economy, a think tank said on Monday.

The Institute for Fiscal Studies urged Reeves against simply raising the levels of existing taxes to bring in the extra money she needs – estimated at about 30 billion pounds ($40 billion)- to stay on course for her targets to repair the public finances.

“The last thing we need in November is directionless tinkering and half-baked fixes,” Isaac Delestre, a senior research economist at the IFS, said.

“There is an opportunity here. The chancellor should use this budget to take real steps down the road towards a

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