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The Latest Breaking News from IFS

UK’s 10% inflation casts doubt on Truss and Sunak’s tax cut promises

Soaring cost of living is forcing up government spending on benefits, pensions and debt leaving no spare cash to lower taxes

The Guardian - UK

Tory leadership tax cut promises ‘hard to square’ with UK’s future, experts warn

The Institute for Fiscal Studies said ‘permanent tax cuts’ could exacerbate pressures on the public purse.

The Independent UK

Truss and Sunak urged to end silence on ‘emergency’ of rocketing energy bills

Tories accused of ‘appalling vacuum of leadership’ as new price cap rise looms

The Independent UK

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Extra £12bn ‘needed to maintain value of energy bills help’

Paul Johnson, director of the IFS, says ministers are ‘still playing catch up’

The Independent UK

Labour’s plan to cut energy bills ‘may cost £60 billion’

Labour claims plan would protect households from energy bill rise ‘entirely’

Evening Standard

What Keir Starmer, Liz Truss and Rishi Sunak's energy bill plans save you - compared

Three people bidding to be Prime Minister all have different solutions to the cost of living crisis heading your way. We compare what the trio's plans mean for you

Daily Mirror

Government must double family support over energy bills – ScottishPower CEO

Energy bosses met with Prime Minister Boris Johnson and other cabinet members to discuss the crisis

Insider UK

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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

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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The Guardian - UK

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 Independent 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.

Daily Mirror

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

The Guardian - UK

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

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Evening Standard

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

The Independent UK

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 Guardian - 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

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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