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The Latest Breaking News from IFS

Size of Scottish poverty reforms 'not appreciated', IFS director says

THE size of recent Scottish welfare reforms is “not really appreciated” and their impact will be “really quite significant”, a director at…

The National (Scotland)

Cost of living payments failing to reach those in greatest need, IFS warns

The payments have helped alleviate significant deprivation but their effectiveness in poverty reduction has been limited, the IFS argued

The Independent UK

UK cost of living payments were ineffective sticking plaster, IFS says

Thinktank says nearly £19bn cost of scheme would have been better spent on raising value of benefits

The Guardian - UK

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Lump-sum cost-of-living payments not targeted at those in greatest need – IFS

The payments have helped alleviate significant deprivation but their effectiveness in poverty reduction has been limited, the IFS argued.

The Independent UK

Lokesh Jayaswal appointed Chief Wildlife Warden

Govt. of Telangana transfers PCCF Lokesh Jayaswal to PCCF (Wildlife) & Chief Wildlife Warden. C.Suvarna appointed PCCF (Haritha Haram).

The Hindu

Labour’s assault on private school tax breaks: a vote winner?

A leading think tank has dismissed fears of a “mass exodus” from Britain’s private schools if a Labour government carried out its pledge to scrap tax breaks for fee-paying schools.

The Week

Proposal put to DWP for Universal Credit benefits £25 a week rise

Calls made to bring back the uplift after report reveals more than 100,000 people pushed into poverty by additional help axe

Wales Online

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Ending private school tax breaks would raise £1.5bn for state sector, thinktank says

Labour’s pledge to remove independent schools’ tax benefits would have ‘limited effect’ on pupil numbers, according to research by IFS

The Guardian - UK

Economists debunk Tory claim that axing private school tax breaks would lead to exodus

The Institute for Fiscal Studies rejected Conservative Party warnings that removing tax perks would lead to large numbers of pupils moving into the state schools system

Daily Mirror

Axing tax breaks would have small effect on private school pupil numbers – IFS

The Labour Party has said it would end the tax exemptions enjoyed by private schools and use the revenue raised to help state schools.

The Independent UK

Tories' benefit cuts 'to push 100,000 into absolute poverty', report suggests

MORE than 100,000 people will be forced into absolute poverty by the UK Government’s £20 cut to Universal Credit in 2022-2023, according to…

The National (Scotland)

End to universal credit’s Covid top-up is fuelling rise in poverty, warns IFS

Pandemic’s £20 benefit uplift led to sharp fall in households living in poverty but replacement is far less effective

The Guardian - UK

Half of boomers and late Gen Xers who took early retirement during the first Covid wave have fallen into poverty

Researchers suggest around 390,000 of the 50 to 70-year-olds who retired in 2020-21 were forced to leave the workforce, as opposed to “retiring in comfort”.

Fortune

Older UK workers who retired early in pandemic were ‘forced into poverty’

Thinktank challenges view that those taking early retirement under Covid were relatively well off

The Guardian - UK

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Chronicle Live

DWP Universal Credit claimants finding private rentals 'increasingly unaffordable'

A freeze on housing benefits means that the proportion of privately rented properties that people on the lowest incomes can afford has plummeted

Evening Standard

Only one in 20 newly-listed private rental homes are ‘covered by housing benefit’

Private rents will become increasingly unaffordable for those on low incomes if benefit freezes are maintained, the IFS said.

The Guardian - UK

Just 5% of private rentals affordable on housing benefit

Freeze on payment since April 2020 and soaring rents mean number of homes affordable to recipients is lowest on record

The Independent UK

Only one in 20 newly listed private rental homes ‘covered by housing benefit’

Private rents will become increasingly unaffordable for those on low incomes if benefit freezes are maintained, the IFS said.

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The Independent UK

Rishi Sunak warned of ‘serious shock’ for mortgage holders as Bank of England poised to raise interest rates

Experts warn 1.4m homeowners will see a fifth of their disposable income wiped out by soaring mortgage rates

The Guardian - UK

1.4m UK mortgage holders face 20% hit to disposable income from rate hikes

Expected surge in costs by 2025 likely to hit people in 30s hardest, says Institute for Fiscal Studies report

Evening Standard

Londoners and under-40s hardest hit by Britain’s mortgage rate mayhem (and don’t forget renters)

Inflation refuses to budge as under-40s, renters and London homeowners feel the pain

The Independent UK

Rate rises ‘could see 1.4m mortgage holders lose over 20% of disposable income’

The Institute for Fiscal Studies said 690,000 mortgage holders are under the age of 40.

The Hindu

Stalin commends IFS officer, NDRF soldier

The Independent UK

How much extra income tax you’ll pay by 2027 due to frozen thresholds

Think tank says millions of workers will be dragged into higher rate of income tax by 2027

The Independent UK

Tory backlash as one in five will be paying higher income tax rate by 2027

One in four teachers and one in eight nurses will be paying 40p rate in biggest tax rise since 1970s, experts warn

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