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The Latest Breaking News from IFS

Income tax rise only way to plug extra £20bn in Budget black hole, economists warn Reeves

Economists say trying to balance the books by raising smaller taxes risks ‘unnecessary amounts of economic damage’

The Independent UK

Mansion wealth tax wouldn’t fill Budget black hole, economists warn Reeves

Former IFS director Paul Johnson says a mansion tax ‘wouldn’t raise anywhere near enough to fill a significant hole’ in the public finances

The Independent UK

‘My big shop used to cost £100, now it’s £150’: readers recount their shock at supermarket food bills

We hear your stories of how you balance the family finances, from buying own brands to cutting right back on weekly shop

The Guardian - UK

From analysis to the latest developments in health,
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IFS outlines cost-effective ways to reduce child poverty

IN FULL

The Independent UK

Scrapping two-child benefit cap cost-effective way to reduce poverty – IFS

Chancellor Rachel Reeves has faced increasing calls to lift the cap.

The Independent UK

Scrapping two-child benefit cap could lift 630,000 children out of poverty

Scrapping the two-child benefit cap would be among the most cost-effective ways to reduce child poverty, the Institute for Fiscal Studies has said

The Independent UK

Welsh Budget could increase risk to public services, warns IFS

The think tank warned the Welsh Government’s draft budget is not realistic in its current form.

The Independent UK

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Is Reeves mounting a pensions tax raid at the Budget?

As the chancellor looks to bolster government funds, few options remain off the table

The Independent UK

Londoners in the firing line for tax rises as Reeves says levy on wealthy 'will be part of story' at Budget

Chancellor says higher taxes on the wealthy will be ‘part of the story’ when she delivers her Budget on November 26

Evening Standard

Rachel Reeves should consider welfare cuts in budget, IFS says

Thinktank urges chancellor to take ‘bold’ action on benefits and pensions to placate jittery financial markets

The Guardian - UK

Higher taxes for the wealthy will be ‘part of the story’, says Reeves ahead of Budget

The chancellor has confirmed that tax rises for the wealthy will be ‘part of the story’ as she seeks to fill a £50m financial blackhole

The Independent UK

Reeves faces Budget ‘groundhog day’ without bold action, says IFS

The think tank said it expects the Chancellor will need to find at least £22 billion next month.

Evening Standard

‘Tinkering around edges’ at Budget risks another year of economic pain, IFS warns Reeves

Chancellor must take ‘bold action’ to avoid ‘limping from one forecast to the next’

The Independent UK

Rachel Reeves, just tell voters why taxes must go up – and then do it

The Thatcherite notion of tax as wicked must be challenged in the upcoming budget. Target unearned wealth; explain that tax creates a decent society, says Guardian columnist Polly Toynbee

The Guardian - UK

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The Independent UK

Farage to give up Reform’s manifesto pledge for £90bn in tax cuts

Reform UK leader Nigel Farage will promise not to reduce taxes before cutting spending and making savings in the civil service at a major speech next month

The Guardian - UK

IFS warns Rachel Reeves against ‘half-baked dash for revenue’

Thinktank says UK could raise significant funds by tackling some of the longstanding ‘inefficiency and unfairness’ in tax system

Evening Standard

Rachel Reeves must avoid 'half-baked' tax rises to fix the economy, warns IFS

The Institute for Fiscal Studies urges the Chancellor to resist ‘simply hiking rates’ without changing an ‘unfair’ tax system

The Independent UK

Reeves could raise billions without breaking Labour pledges – IFS

The Government is under pressure to balance the books ahead of November’s autumn statement.

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The Independent UK

Rachel Reeves warned against pensions tax raid or annual wealth tax at budget

The chancellor is facing increasing pressure to rescue the UK’s troubled finances in the Budget but the IFS has warned against raiding pensions or levying a wealth tax

Evening Standard

Government plans to merge benefits could save billions, says think tank

Merging jobseeker’s allowance and employment support allowance could save between £2 billion and £3 billion a year, the IFS has said.

The Guardian - UK

Rachel Reeves’s second budget needs a narrative of fairness to justify tax rises

The chancellor should reach for the language of solidarity and social justice that this government tends to recoil from

The Independent UK

Warning SEND costs will surge by billions without reforms

IN FULL

Evening Standard

Send spending could outstrip spending by Ministry of Justice by 2029 – IFS

The Institute for Fiscal Studies warned there is a risk that increases in spending on children will be followed by higher spending on young adults.

The Independent UK

New report lays bare the growing cost of SEND spending

Government will set out how it will reform the Send system in the Schools White Paper later this year

Evening Standard

‘OBR needs to change way it forecasts economic performance’, Reeves says

The Chancellor told broadcasters only one full forecast should be done a year as Government aims to only change fiscal policies once annually.

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