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The Latest Breaking News from the Institute for Fiscal Studies

SNP ‘delivered goods’ on budget says Swinney amid think tank concerns

The Institute for Fiscal Studies examined the manifestos from the six major parties running in next week’s election.

Evening Standard

Scotland’s political parties accused of ‘lack of realism’ over manifesto plans

The Institute for Fiscal Studies said the parties running in the Holyrood election did not appreciate ‘just how tough the fiscal challenges will be’.

Evening Standard

Starmer’s new £1bn youth unemployment plan risks doing little for those not forced to search for work

The Institute for Fiscal Studies’ verdict comes after work and pensions secretary Pat McFadden set out scheme to encourage employers to hire young people

The Independent UK

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Millions of Britons face more tax rises to boost defence spending to fight Vladimir Putin threat

The warning came as Sir Keir Starmer signalled he wanted to increase defence spending to 3% of GDP by 2029

Evening Standard

What to know about student loans controversy as graduates left worse off

The Institute for Fiscal Studies (IFS) found that those on Plan 2 loans face repaying around £3,000 more on average

The Independent UK

Student loan term tweaks leave some people thousands of pounds worse off – study

Repayment terms on Plan 2 loans have caused controversy, with some people describing them as a ‘stealth tax’.

Evening Standard

Six councils granted power to raise council tax without needing to consult residents

The Institute for Fiscal Studies (IFS) has estimated that Wandsworth and Westminster councils would need to hike council tax by as much as 75 per cent to balance the books in the wake of government reforms

The Independent UK

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Castles outside London to escape 'mansion tax' as one-bed flats in capital hit by new levy in Budget

Nearly one in four of the properties caught by the ‘mansion tax’ are in just three London boroughs, Kensington and Chelsea, Westminster and Camden

Evening Standard

'Mansion tax' could wipe £150,000 off top-end homes in London targeted by Reeves Budget

One in four of the properties hit by the new surcharge are in just three London boroughs; Kensington and Chelsea, Westminster and Camden, according to the Institute for Fiscal Studies

Evening Standard

Mansion tax to wipe £10,000s off value of London homes hit by new levy in Reeves Budget

One in four homes which will pay the property surcharge are in just three London boroughs; Kensington and Chelsea, Westminster and Camden

Evening Standard

Reeves should be more ambitious on tax reform to boost economic growth – IFS

The Institute for Fiscal Studies’ director Helen Miller called on the Chancellor to be more ambitious about measures to boost growth.

The Independent UK

Starmer says budget did not break manifesto tax pledge – as it happened

PM says: ‘We kept to our manifesto in terms of what we’ve promised. But I accept the challenge that we’ve asked everybody to contribute’

The Guardian - UK

What is a ‘mansion tax’ and how would it work?

A new levy targeting wealth could reportedly be announced by chancellor today

The Independent UK

Scrapping two-child benefit cap could lift 630,000 children out of poverty

Scrapping the two-child benefit cap would be among the most cost-effective ways to reduce child poverty, the Institute for Fiscal Studies has said

The Independent UK

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The Guardian - UK

Rachel Reeves should consider welfare cuts in budget, IFS says

Thinktank urges chancellor to take ‘bold’ action on benefits and pensions to placate jittery financial markets

The Guardian - UK

Labour MPs call on Rachel Reeves to scrap council tax

Exclusive: 13 mainly northern MPs say a new system should better account for higher house prices in south-east

Evening Standard

Send spending could outstrip spending by Ministry of Justice by 2029 – IFS

The Institute for Fiscal Studies warned there is a risk that increases in spending on children will be followed by higher spending on young adults.

The Independent UK

Two-child benefit limit does not affect readiness for school, says think tank

The Institute for Fiscal Studies said their findings did not mean the policy has no wider consequences, including on health and later wellbeing.

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The Guardian - UK

Special needs overhaul risks becoming ‘welfare reforms mark 2’, IFS finds

Thinktank says EHCP changes are overdue, but government must convince parents that reforms are not about cost cutting

The Conversation

England’s family hubs plan aims to build on Sure Start’s success – but may struggle to overcome today’s child poverty levels

The government has announced its strategy for “giving every child the best start in life”, laying out proposals covering early years care, education and support in England.

The Guardian - 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

Evening Standard

Council tax bills set to rise at fastest rate for two decades, economist warns

Paul Johnson said council tax bills could rise by 5% a year following the Chancellor’s spending review

The Conversation

More free school meals is a start – here’s what would really address child poverty

All children in England living in households claiming universal credit will soon be eligible for free school meals, the UK government has announced. This will improve the lives of 500,000 more children and save their families £500 per year.

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

Evening Standard

Charities welcome free school meals change but warn ‘more is needed’

Charities and school leaders welcomed the change but urged the Government to reconsider the two-child benefit cap to ease poverty levels.

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