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The Latest Breaking News from IFS

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

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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

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 Independent 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

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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

The Guardian - UK

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

Evening Standard

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 Guardian - UK

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.

The Conversation

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:

Dynamite News

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

The Guardian - UK

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

Evening Standard

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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…

The Guardian - UK

Female NHS consultants are closing the ‘gender promotion gap’

Researchers cite retirement of male consultants during Covid pandemic as key factor

The Guardian - UK

Home Office criticised over ‘woefully’ understated Tory asylum budgets

An IFS report vindicates Labour concerns that it inherited a worse financial situation than previously thought

The National (Scotland)

Labour's fiscal rules are 'daft' – they should borrow more, IFS director says

LABOUR’s self-imposed fiscal rules are “pretty daft” and ape the Conservatives, according to the director of a leading economics think tank ...

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The National (Scotland)

'Nonsense': Anas Sarwar panned for 'UK cuts not related to Scottish cuts' claim

ANAS Sarwar has been panned after he claimed that UK Government cuts are “not related” to cuts in Scotland ...

The Independent UK

Government borrowing surges to higher than expected £3.1bn as Reeves under pressure to raise taxes

The Office for National Statistics (ONS) said public sector net borrowing stood at £3.1bn last month, £1.8bn more than a year ago and the highest July borrowing since 2021

The Guardian - UK

Former Sunak adviser urges Labour to introduce wealth tax on housing

The economist behind the Covid furlough scheme has called for ‘unfair’ council tax and stamp duty to be axed in England

Evening Standard

OPINION - Jack Monroe was right – 'cheapflation' really did hit the poorest households

Every month, our friends at the Office for National Statistics (ONS) publish the latest annual inflation rate, which measures the change in the price of regularly purchased products compared with the same time the previous year. Today, that figure (or rather, July's figure) was 2.2 per cent, slightly up on June…

The Independent UK

UK’s poorest households felt brunt of rising food prices in cost of living crisis

It comes as fresh inflation data from the Office for National Statistics found that inflation ticked up to 2.2 per cent in July

The Guardian - UK

Revealed: how UK’s poor paid price of ‘cheapflation’ in cost of living crisis

Price rises were bigger for budget foods than expensive varieties during peak years of inflation, research shows

The National (Scotland)

Scottish independence group issues update on St Andrew's Day convention

A SCOTTISH independence group has issued an update on a convention it has planned for later in the year ...

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