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The Latest Breaking News from IFS

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

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

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)

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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

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

Chronicle Live

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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.

Evening Standard

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 Guardian - 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.

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 Independent 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

The Guardian - UK

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

Evening Standard

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 Independent UK

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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

The Guardian - UK

One in five workers will be higher-rate taxpayers by 2027 – IFS

Jeremy Hunt’s freeze on allowances and thresholds will put a quarter of teachers and one-eighth of nurses in 40% income tax bracket

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The Independent UK

One in five taxpayers will be paying higher rate of income tax by 2027, says IFS

By 2027–28, the number of people paying income tax at 40% or above will reach 7.8 million, according to a new Institute for Fiscal Studies report.

Dynamite News

Janhvi Kapoor, Gulshan Devaiah & Roshan Mathew to star in ‘Ulajh’

Junglee Pictures on Wednesday announced the casting of their upcoming film titled ‘Ulajh’, a stylised international thriller, set in the prestigious and intriguing world of Indian Foreign Services (IFS). Read further on Dynamite News:

Chronicle Live

DWP benefits crackdown sees Universal Credit payments slashed by up to £1000 a month

A new report has revealed that over 100,000 households are affected by the benefits cap, with anti-poverty charities making fresh calls for it to be scrapped

Wales Online

The amount spent on each child's education in Wales has barely risen in more than a decade

The average £7,000 per pupil spend is only around 3% higher than in 2010, new report shows

Daily Record

Calls for ‘major review’ to avoid pensioners not having enough money to live on during retirement years

The future looks "risky at best for many workers hoping for comfortable retirement".

The Guardian - UK

Pensions are a costly problem – and we need to talk about them

There are serious inequalities in how Britons save for retirement and in the health of those who have retired. Why?

The Week

Britain’s missing workers

Since the pandemic, Britain has faced a novel difficulty. Official unemployment is at its lowest point since the 1970s: at 1.3 million people, or 3.8% of working-age adults.

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