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The Latest Breaking News from IFS

Starmer says government ‘just not good enough’ on cost of living crisis as he defends plan to freeze energy bills – as it happened

Labour leader says policy for a windfall tax on energy is needed to reduce inflation

The Guardian - UK

Hundreds of bus routes face axe with 'cliff-edge' deadline THIS WEEK - key areas hit

A cut-off date is looming within days for England's bus firms to cut or scrap key routes - as vital government Covid funding runs out in October

Daily Mirror

Student loan interest rate cap 'does nothing at all to protect current students', say analysts

The interest rate will be capped at 6.3% this autumn and reviewed again in December

Wales Online

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New student loan changes affecting everyone who is repaying one

The change affects students with Plan 2 (undergraduate) and Plan 3 (postgraduate) loans - and comes instead of an expected 12% interest rate

Glasgow Live

Tens of millions of working Brits set to be hit by 'stealth tax' of £30billion

Income tax thresholds, including the personal allowance, have been frozen for four years. But inflation is soaring and could hit 13% - meaning people will be dragged into paying more

Daily Mirror

Public services face cuts unless £26bn inflation hole plugged, IFS warns

Prices rises will cause cuts in healthcare, education and defence unless the Treasury intervenes, according to a leading economic think tank

The Independent UK

Student loan interest rates cut again as inflation and cost of living soar

DfE says maximum rate in England and Wales will be fixed at 6.3%, having previously reduced it to 7.3%

The Guardian - UK

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Public services need another £44bn by 2025 to cope with inflation, says IFS

Severe cuts to services feared as rising costs absorb a big chunk of increased departmental spending

The Guardian - UK

Inflation could wipe out billions pledged for public services, warn experts

The Government’s spending plans are ‘considerably less generous’ than originally intended last autumn, a think tank has warned.

The Independent UK

One in 25 heart attack deaths in North East would have been avoided in London, poll finds

A study by the Institute of Fiscal Studies said that among 100 otherwise identical patients, around six in these areas would have survived if they had access to the same healthcare as London

Daily Mirror

One in 25 heart attack deaths in north-east of England ‘preventable in London’

IFS research shows six in 100 patients would have survived if they had been treated by a similar doctor in London

The Guardian - UK

Conservative leadership race: ‘Next PM must find billions to help out struggling households’

Carrying on with the current economic policy is ‘not going to cut it’, IFS chief says

Evening Standard

School spending power to stay below 2010 levels as inflation drives up costs

New prime minister faces decision on new cash injection to avoid ‘stagnation’

The Independent UK

Schools in England face funding crisis as costs soar, study warns

Institute for Fiscal Studies says spend per pupil set to be lower in 2025 than in 2010, with budgets already under strain from rises in food, energy and wage bills

The Guardian - UK

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Dynamite News

Pranay Kumar Verma appointed as Indian High Commissioner to Bangladesh

A 1994 batch IFS officer, Verma is currently Ambassador of India to the Socialist Republic of Vietnam. Read more on Dynamite News:

Daily Mirror

Boris Johnson takes swipe at Rishi Sunak over energy bill VAT U-turn

The outgoing Prime Minister said the controversial move would be "easier than we thought" in a thinly-veiled dig at the former Chancellor during a speech at the Commonwealth Business Forum in Birmingham

Daily Mirror

Economists cast doubt over Rishi Sunak's bid to scrap VAT on domestic energy bills

Tory leadership candidate Rishi Sunak has vowed to drop the 5% charge from October if the energy price cap tops £3,000, describing it as a 'targeted, temporary and timely tax cut'

Daily Mirror

Rishi Sunak warned plan to cut VAT on energy bills could move UK in 'wrong direction'

Last night the former Chancellor announced plans to scrap the 5% charge from October if the energy price cap tops £3,000 - prompting critics to accuse him of flip-flopping

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The Independent UK

Rishi Sunak offer to cut VAT on energy ‘threatens climate change targets’

‘Move in exactly the wrong direction’, says economics thinktank

The Independent UK

Rise in long Covid sufferers unable to work costs UK £1.5bn a year

Around 110,000 people are off work with condition at any one time, new research estimates

The Guardian - UK

Long Covid costing UK workers up to £1.5bn yearly in lost income, says IFS

Researchers say impact of rise to 2 million cases meant it was ‘a significant part of pandemic’s legacy’

The Hindu

Centre will not implement draft notification of ESA in Western Ghats till it gets panel report: CM

The Centre has informed a delegation from Karnataka that the draft notification of Ecologically Sensitive Areas in Western Ghats will not be implemented till the report from a high-level committee headed by retired IFS officer Sanjay Kumar is received on the issue.

The Guardian - UK

Rishi Sunak steps up attack on Truss tax cuts as poll puts his rival well ahead

Former chancellor says opponent’s economic policies risk stoking inflation and pushing up interest rates

The Independent UK

Tory leadership: Liz Truss’s tax cuts will damage public services and bust Treasury rules, economists warn

Race favourite’s economic credibility under fire – as she appears to be coasting to victory in vote by Tory members

The Independent UK

Liz Truss tax cuts policy ‘ridiculous’ and risks 1970s-style inflation, economists warn

Experts reject Tory candidate’s claim tax cuts ‘will decrease inflation’ – and warn of austerity era ahead

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