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The Latest Breaking News from IFS

Paul Johnson to leave influential IFS economics thinktank

Leading authority on tax and spending policy to depart Institute for Fiscal Studies next year for Queen’s College, Oxford

The Guardian - UK

Thursday briefing: The £40bn funding gap, £22bn ‘black hole’ and more tricky terms, explained

In today’s newsletter: Chancellor Rachel Reeves is painting a bleak picture ahead of the budget later this month. Here’s what all the jargon means

The Guardian - UK

No 10 rejects claim Labour misled voters about tax plans in manifesto – as it happened

Labour set out plans to raise taxes by £7.3bn in its manifesto – but Treasury briefing suggests £40bn in tax rises and spending cuts needed

The Guardian - UK

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Rachel Reeves 'rolling pitch for big tax rises' in Budget with £40billion plan briefing, says top economist

IFS director Paul Johnson believes Labour will break its election manifesto on tax

Evening Standard

How will the employer National Insurance rise affect you?

One expert has called the Labour measure a “straightforward breach” of its manifesto

The Independent UK

Reeves warned national insurance hike would be ‘straightforward breach’ of manifesto

Speculation is mounting that the chancellor is considering raising employer contributions

The Independent UK

Inflation-busting council tax rises of 5% may be in Rachel Reeves Budget, top economists warn

They also say that increasing employer National Insurance would be a ‘clear breach’ of Labour’s manifesto

Evening Standard

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Row over claims Rachel Reeves could hike capital gains tax as high as 39%

Chancellor has dismissed Budget speculation but fears are rising over a massive tax hike to fill a £25bn black hole in her plans

The Independent UK

Rachel Reeves considers raising capital gains tax to 39%

Exclusive: Rates of 33% to 39% being tested as Treasury source says tax-raising plans are in ‘complete disarray’

The Guardian - UK

Rachel Reeves warned up to £25bn of tax rises needed to avoid austerity

Rachel Reeves’ first budget could be ‘the most consequential since at least 2010’, the IFS said

The Independent UK

Rachel Reeves told she needs £25 billion tax increases to avoid austerity

Rachel Reeves may need to raise up to £25 billion from tax increases if she wants to keep spending rising with national income, the Institute for…

The National (Scotland)

Will Rachel Reeves’s rules on debt and spending survive the budget?

The chancellor desperately needs more money to finance growth and public spending so expect a bit of tweaking to supposedly strict constraints

The Guardian - UK

Labour needs £25bn a year in tax rises to rebuild public services, warns IFS

Thinktank says tax increases in budget will be necessary even if Rachel Reeves changes fiscal rules

The Guardian - UK

Reeves mulling national insurance on employer pension contributions

Treasury officials examining potential levy that experts say could raise as much as £17bn for the exchequer

The Guardian - UK

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The Independent UK

Thousands more children in poverty since Labour came to power because of two-child benefit cap, charity claims

Labour urged to abolish the two-child benefit gap by charities who say the damage it causes ‘grows every day’

The Independent UK

Budget 2024: Five key tax takeaways at a glance

Chancellor announces biggest raft of tax hikes in any budget since 1993

The Guardian - UK

Private schools say drop in enrolments mainly due to impending VAT on fees

Survey by Independent Schools Council finds UK pupil numbers down 1.7% compared with 2023

The Guardian - UK

Time is ticking for Labour to scrap the two-child limit – and then make Britain a welcoming place for children again

Axing the cap is the first step towards pulling children out of poverty. Could £2.5bn ever be better spent, asks Guardian columnist Polly Toynbee

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Evening Standard

London's IFS cable car workers to strike in row over pay, union says

Workers at London cable car threaten strikes every Saturday in pay dispute

The Guardian - UK

Labour’s tax red lines have left Reeves with ‘one hand tied’ for budget, says IFS

Ruling out of rises to four main taxes could lead chancellor to make ‘economically damaging’ decisions, says thinktank

The Conversation

Why has there been a sharp rise in health-related benefits claims in Britain but not in similar countries? Expert Q&A

Since 2019, real-terms spending on health-related benefits in Britain has increased by £12 billion and is set to continue growing, according to a new report from the Institute for Fiscal Studies. However, comparable countries, such as France, Australia and the US, have not experienced similar increases in spending.

Dynamite News

Sanjay Rana is the next Ambassador of India to the Kingdom of Morocco

Sanjay Rana, the 1996 batch IFS officer is presently Ambassador of India to Bulgaria. Read further on Dynamite News:

The Guardian - UK

Automatically enrol young staff into workplace pension schemes, says IFS

Thinktank says with up to 40% of staff on track for inadequate funds even 16-year-olds should be signed up

Evening Standard

Slump in visa applications from foreign students threatens to hit some UK universities, warn top economists

Home Office figures showed 25,200 fewer applications for visas to study in UK in August

Newslaundry

Nehru’s First Recruits: A remarkable retelling of an epoch – with one glaring gap

The advent of the post Second World War international order – and the new equations that emerged with it – coincided with the early years of postcolonial India. Perhaps the clearest reflection of the significance that newly independent India placed in navigating external challenges and pursuing national interests, while engaging…

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