The Latest Breaking News from IFS

The global foundry industry witnessed a substantial rise in demand in the third quarter of 2023, according to TrendForce. The Top 10 foundries collectively saw their revenue soar to about $28.29 billion, marking a 7.9% increase compared to the previous quarter. Taiwan Semiconductor Manufacturing Co. (TSMC) maintained its No. 1…

National insurance cut risks Bank of England being more ‘hawkish’ in battle against inflation

Chancellor ‘opens the door to May election’ with national insurance giveaway and hint of income tax cut in spring

Despite £27bn windfall for the autumn statement, government forecaster warns of generally more difficult outlook until 2028

The chancellor is estimated to have billions to play with and has a range of options from lowering income tax to cutting inheritance tax

The IFS also stressed that some of the Chancellor’s fiscal “headroom,” possibly of around £25 billion, is an 'illusion'

Red wall Tory MPs warn inheritance tax cut would be ‘odd priority’ and viewed as handout for the rich – as chancellor appears to switch focus

The chancellor’s potential inheritance tax cut in Wednesday’s budget would aid millionaires amid a cost of living crisis

The Institute for Fiscal Studies said some key deprivation data produced by the Government is unreliable.