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The Latest Breaking News from IFS

Welfare U-turn raises questions over Labour’s tax plans

Sir Keir Starmer will face a grilling from MPs on Wednesday as he attempts to repair relations with his backbenchers.

Evening Standard

To all who think capitalism can drive progressive change, it won’t – and here’s the shocking proof

Asset manager Aberdeen’s surprise cut to funding research into inequality has left those that used its grants for good work reeling, says Guardian columnist Polly Toynbee

The Guardian - UK

Starmer ‘agrees’ concessions with welfare cut rebels as he faces huge revolt

Economists warn tax rises could be needed to fund a U-Turn on Sir Keir Starmer’s £5bn welfare reforms as PM opens door to concessions

Evening Standard

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Starmer seeks to win round welfare rebels with promise of ‘fairness’

Sir Keir Starmer was challenged in the Commons about the looming squeeze on sickness and incapacity benefits.

Evening Standard

Starmer seeks to quell revolt to speed through welfare reforms

The Government’s plans to restrict access to some disability benefits have been publicly opposed by 126 Labour MPs.

Evening Standard

'Ever-rising' council tax in London: Angela Rayner challenged on funding shake-up set to hit boroughs

The Deputy Prime Minister was grilled over looming funding cuts to boroughs such as Richmond and Kingston

Evening Standard

UK can reach net zero by 2050, climate report finds

Climate Change Committee says current targets could be met provided country takes ‘steps forward’ to achieve them

The Guardian - UK

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Starmer leaves door open for tax rises to fund rise in defence spending

IFS director Paul Johnson warns the £30bn increase in defence spending will need to be funded by tax rises

The Independent UK

There hasn’t been a ‘big chancellor’ since Osborne: IFS chief gives final mark

As he steps down after 14 years, Paul Johnson says politicians and voters refuse to accept economic tradeoffs

The Guardian - UK

Demob-happy IFS director tears into Rachel Reeves’s spending review

Blistering analysis by outgoing chief concludes chancellor likely to end up ‘gnat’s whisker’ away from tax rises

The Guardian - UK

Tax hikes ‘almost certainly’ to come if economy worsens, IFS says

IN FULL

The Independent UK

Tax hikes will come if economy shrinks any further, IFS warns Rachel Reeves

Institute for Fiscal Studies suggests Treasury is ‘making up the numbers’ as it warns council tax will rise at fastest rate in a generation

The Independent UK

Fact check: 2025 spending review claims

Round-up of fact checks from the 2025 spending review compiled by Full Fact.

The Independent UK

Reeves unveils record spending plans but experts warn of tax rises ahead

Chancellor announces £39bn boost for social housing, £29bn for NHS and £11bn for defence – and promises to close all asylum hotels as she takes a swipe at Farage and dismisses Tory warnings of a ‘cruel summer’ of tax rises

The Independent UK

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Evening Standard

More tax rises on the way 'if anything at all goes wrong' with Rachel Reeves economic plans, IFS warns

The Chancellor has very little economic cushion to deal with any unexpected events

The Independent UK

Voices: Wes Streeting has won the spending review – but will he blow his winnings?

COMMENT: The NHS will emerge from Rachel Reeves’s funding announcement positively awash with extra cash – but alarm bells should already be ringing about the fall in productivity across the health service, says John Rentoul

The Independent UK

UK could face up to £30bn of tax rises to fund defence spending boost, economist says

Sir Keir Starmer has vowed to boost defence spending to 2.7 per cent of GDP by 2027, as Nato allies push for ‘dramatic increase’

The Guardian - UK

Free school meals for more children in England is a positive thing, but there’s a catch

The government’s announcement won’t mean much if disability and Pip cuts push more families into poverty, says Guardian columnist Polly Toynbee

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The Guardian - UK

Free school meal expansion in England will benefit fewer than claimed, IFS says

With data showing one in four pupils already get free lunches, institute says short-term benefits overestimated

The Guardian - UK

Rachel Reeves must think big to fund Labour’s ‘battle-ready’ Britain. Tweaks and tinkering won’t do

The whole tax and spending ship is an unseaworthy rustbucket. This spending review is a chance to fix it, says Guardian columnist Polly Toynbee

The Independent UK

Rachel Reeves told it is ‘impossible’ to invest in growth, public services and net zero in spending review

Labour chancellor under pressure over spending plans as deputy prime minister Angela Rayner among those whose departments fail to settle budget with the Treasury

MarketBeat

Intel’s Turnaround May Be the Best Bet No One’s Watching

Intel's capture of an alleged embezzlement highlights CEO Tan's efficiency push, suggesting its undervalued stock presents a unique long-term opportunity.

The Independent UK

How more pensioners could be eligible for winter fuel payment after government U-turn

Undoing last year’s policy change would wipe out the £1.5 billion in savings

The Guardian - UK

Sure Start centres generated £2 of financial benefits for every £1 spent, study finds

New Labour initiative created ‘remarkably long-lasting’ health and education improvements, says report

MarketBeat

Intel Refocuses: NEX Sale and Foundry Pivot Signal New Era

Intel's strategic refocus intensifies with potential NEX unit sale discussions and reaffirmed confidence in its foundry's path to future profitability.

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