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The Latest Breaking News from IFS

OpenAI CEO Sam Altman will be at Intel's next foundry event — and he's currently looking for chip partners

OpenAI's Sam Altman will talk about the importance of advanced chips for AI workloads at Intel's upcoming Direct Connect event in Feb.

Tom’s Hardware

Wales has been brave enough to completely rethink the hated council tax. Take note, England

The Senedd’s plan to shift the burden of this levy away from those on lower incomes shows how real levelling up can work, says the Guardian columnist Polly Toynbee

The Guardian - UK

Intel Teams Up with UMC for 12nm Fab Node at IFS

Intel and UMC on Thursday said they had entered into an agreement to jointly to develop a 12 nm photolithography process for high-growth markets such as mobile, communication infrastructure, and networking. Under the terms of the deal, the two companies will co-design a 12 nm-class foundry node that Intel Foundry…

AnandTech

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ECB chief says talk of interest rate cuts ‘premature;’ US economy grows faster than expected – as it happened

European Central Bank president Christine Lagarde holds press conference after bank keeps interest rates unchanged as expected

The Guardian - UK

Labour and Tories need to be honest about economic trade-offs, says IFS

Thinktank calls on parties to ‘level’ with voters about difficult tax and spending decisions before next election

The Guardian - UK

New urban forestry director takes over

IFS officer S.V. Pradeep Kumar took charge as director of Urban Forestry Wing of Hyderabad Metropolitan Development Authority

The Hindu

Government to lose money on all student loans – even those repaid in full

The increased cost of borrowing has left the government with an £11bn annual shortfall, according to the IFS

The Guardian - UK

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Jeremy Hunt unsure if government can afford more tax cuts

‘I don’t yet know if I can’, says chancellor when asked about pre-election tax giveaway talked up by PM

The Independent UK

Rishi Sunak tax cuts won’t ease burden, economists warn, as national insurance rate drops

The Institute for Fiscal Studies says personal taxes are rising despite much-hyped Tory tax cuts

The Independent UK

Labour tax cuts would threaten another 'period of austerity' for public services, warns IFS

Sir Keir Starmer and shadow Chancellor Rachel Reeves are reported to be considering tax cuts in Labour’s election manifesto, possibly to income tax

Evening Standard

Intel Reiterates: We Are Not Going to Spin Off IFS

When Intel struggled with its 10nm process technology a few years ago, some investors suggested that the company would be better-off spinning its chip production into an independent foundry, leaving the core of the company to focus on chip design instead. Bucking these calls, however, Intel opted to keep chipmaking…

AnandTech

Spending on university students in England ‘back to 2011 low point’, says IFS

Government’s underestimation of inflation has eroded teaching resources, according to thinktank

The Guardian - UK

TSMC Solidifies Leadership on Foundry Market as Intel Jumps into Top 10

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…

AnandTech

Hunt’s tax cuts mean interest rates won’t drop until summer 2024, economists warn

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

The Independent UK

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The Guardian - UK

Which public services will suffer most to pay for Tory tax cuts?

Already squeezed criminal justice system, schools and local government would face painful cuts if chancellor’s sums are to add up

The Guardian - UK

Hunt’s tax cuts mean austerity ‘more painful’ than under Osborne, warns IFS

Thinktank says £20bn package of tax cuts would be mostly funded by deep reductions in public spending planned from 2025

The Independent UK

Hunt budget means spending cuts will be even more painful than austerity era, top economists warn

Public sector cuts will be ‘more painful’ than under Cameron and Osborne, says IFS – accusing Hunt of leaving ‘mother of a headache’ for next government

Evening Standard

Jeremy Hunt's Autumn Statement still leaves hundreds of pounds shortfall for workers despite tax cuts

Number crunching shows mixed picture despite Chancellor's claims

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The Independent UK

Jeremy Hunt hails biggest tax cuts since Thatcher but plans condemned as ‘not good for growth’

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

The Guardian - UK

OBR halves UK growth forecast and warns inflation will exceed 2% target until 2025

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

The Guardian - UK

Autumn statement: where might Jeremy Hunt spend his windfall?

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

Evening Standard

Autumn Statement: Hunt would 'risk fuelling inflation with tax cuts putting money quickly in people’s pockets'

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

The Independent UK

Hunt refuses to rule out shock income tax cut amid warnings of revolt if budget favours rich

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 Guardian - UK

Jeremy Hunt faces red wall revolt if he delivers ‘a budget for the rich’

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

The Independent UK

Study finds official statistics fail to capture scale of poverty and inequality

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

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