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The Latest Breaking News from IFS

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

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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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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 Guardian - 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 Independent 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

The Guardian - 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 Independent 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 Guardian - UK

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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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news in one place.

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Evening Standard

Rishi Sunak set to preside over biggest tax-raising parliament on record, say experts

By the time of the next general election, taxes will likely have risen to around 37% of national income, according to analysis by the IFS

The Guardian - UK

UK households face tax rise of £3,500 a year by next election, finds IFS

Thinktank says Tories have overseen the biggest increase in taxes during a parliament since records began in 1951

The Independent UK

Sunak set to preside over biggest tax-raising parliament on record, say experts

By the time of the next general election, taxes will likely have risen to around 37% of national income, according to analysis by the IFS.

The Hindu

T.N. reconstitutes State Biodiversity Board

TN State Biodiversity Board reconstituted, incl. 3 special invitees from Industries, Animal Husbandry, Pollution Control. Minister for Forests chair, ex-officio members incl. Secretaries of Environment, Rural Dev., Agriculture, PCCF, CWLW. Retired IFS officer, Prof. K. Sivakumar, Florida Tilton, Assoc. Prof. V. Gokula, Assoc. Prof. S. Geetha members. Secretaries of Industries,…

Fortune

Rishi Sunak considers cutting the U.K.’s ‘most unfair tax’

An overhaul to the existing inheritance tax regime might worsen wealth-based inequalities in the U.K, according to the Institute for Fiscal Studies.

The Independent UK

Wealthiest 1% would get average tax cut of £1m if inheritance tax scrapped

According to an IFS report, the cost of abolishing inheritance tax would be £7bn

The Guardian - UK

Scrapping inheritance tax would cost £15bn a year by 2032, says IFS

Thinktank carried out analysis as calls mount among Tory MPs for the tax to be abolished

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