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The Latest Breaking News from IFS

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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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 Guardian - 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

The Independent UK

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

Evening Standard

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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 Independent 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

The Guardian - UK

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'

Evening Standard

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 Independent 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 Guardian - 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.

The Independent UK

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The Guardian - UK

Early retirement in England increasingly preserve of wealthy, report shows

IFS study shows change in employment pattern for those in 50s and 60s between 2002-03 and 2018-19

The Guardian - UK

Academics challenge Starmer to accept Israel’s siege of Gaza is against international law – UK politics live

Labour urged to clarify its position on collective punishment by 39 academics who say party must confirm it ‘opposes the commission of war crimes’

The Independent UK

UK economy in ‘horrible bind’ as recession looms with no room for tax cuts, say experts

Britain in for ‘protracted period of high taxes and tight spending’, says Institute for Fiscal Studies

The Guardian - UK

Tories have no room for tax cuts despite £52bn a year stealth rise, says IFS

UK stuck between weak economic growth and risk of persistently high inflation, says thinktank

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The Independent UK

UK economy in ‘horrible’ bind with no room for tax cuts as recession looms – IFS

Britain is heading towards a recession next year as borrowing costs stay elevated, the IFS warned in its latest Green Budget.

The Independent UK

Rising costs faced by schools in England growing faster than inflation – IFS

School spending per pupil will ‘largely stagnate in real terms’ when costs likely to be faced by schools are taken into account, a report says.

The Guardian - UK

Hunt’s speech pleases Tory faithful but is unlikely to resonate with voters

Cost of living crisis, rising unemployment and extended NHS waiting times will determine government’s chances in general election

The Independent UK

Hunt tries to calm Tory rebels by pledging end to ‘vicious circle’ of tax rises

Liz Truss joins rebels in vowing to vote against any tax rise in Hunt’s mini-Budget

Evening Standard

OPINION - 2019-2024: The tax-raising-est parliament on record

Sometimes, the headline from a think tank report can be so cryptic you have to call up the press office to ask what exactly they meant by it. But not this one. The Institute for Fiscal Studies (IFS) has published a paper titled: This will be the biggest tax-raising parliament…

The Guardian - UK

Axing most winter fuel payments would break Tory manifesto promise, says Labour – as it happened

Sky reports Sunak is considering removing the winter fuel allowance – worth between £250 and £600 this winter – from most pensioners

The Guardian - UK

UK Treasury minister defends tax plans in face of biggest rise on record

Andrew Griffith says government will stick to spending proposals despite growing pressure to cut taxes

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