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The Latest Breaking News from the Institute for Fiscal Studies

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.

Evening Standard

Reeves may have to find further cuts and tax hikes amid economic gloom

Rising costs and global uncertainty may force chancellor to turn to pensioners and wealthier taxpayers

The Guardian - UK

Is this the new austerity? What the numbers say

With the chancellor announcing around £4.8 billion of cuts to welfare spending over the next five years, Alicja Hagopian looks at whether the UK is returning to the austerity policies of ther 2010s

The Independent UK

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read the most diverse news in one place.

‘Good chance’ Reeves will have to raise taxes in autumn budget, thinktank says – as it happened

Institute for Fiscal Studies also warns Reeves over her focus on sticking with fiscal rules regardless of real world events

The Guardian - UK

Spring statement will lead to six months of ‘damaging speculation’, IFS warns

The Institute for Fiscal Studies said Rachel Reeves’ adherence to fiscal rules will lead to speculation about tax hikes in the autumn budget.

The Independent UK

How many people get benefits now and how does the total compare with 20 years ago?

With possible welfare cuts up for debate in the House of Commons today (July 1), here’s a look at how benefits have changed over the years.

Evening Standard

Rachel Reeves has three options to dodge an economic crisis and all are unthinkable

As her £9.9bn of headroom evaporates, chancellor will have to raise taxes, cut spending or break ‘iron-clad’ fiscal rules

The Guardian - UK

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Awareness of Sharia-compliant pension options should be increased, says IFS

Policymakers and businesses should look at ways to simplify the process of switching to Sharia-compliant investment strategies, the IFS said.

Evening Standard

Top financial institutions give verdicts on SNP's Scottish Budget

TWO respected financial institutions have given their verdict on the SNP Government Budget, noting a “significant increase” in public service…

The National (Scotland)

Scottish income tax policy not working, financial services body claims

Scottish Financial Enterprise said rates should be brought more closely in line with those south of the border.

The Independent UK

Labour’s stopgap tuition fee rise is a further test of students’ faith

First hike since 2017 staves off fuller reckoning with higher-education funding but gives no confidence for the future

The Guardian - UK

UK Treasury Chief Raises Taxes, Warns Of Lower Wages

UK Treasury raises taxes by 40 billion pounds, affecting wage growth and public services. Potential future tax increases and spending concerns highlighted.

Top News

Lower pay rises likely as result of Budget tax increases, Rachel Reeves admits

Tax rises in the Budget are likely to hit workers in the pocket with lower pay rises, Rachel Reeves has admitted.

The National (Scotland)

Lower pay rises likely due to Budget tax rises, Rachel Reeves admits

The Chancellor acknowledged her decision to raise national insurance contributions for employers could impact wage growth for workers.

Evening Standard

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The Independent UK

Lower pay rises likely due to Budget tax increases, Rachel Reeves admits

The Chancellor acknowledged her decision to raise national insurance contributions for employers could affect wage growth for workers.

The Independent UK

UK politics live: Budget means weekly pay to rise just £13 in 20 years as IFS calls Reeves’s plans ‘unrealistic’

The Resolution Foundation has warned that the pay outlook is “dire” and many UK workers will not feel any better off by the end of this Parliament

Evening Standard

Taxes to rise higher AGAIN in next few years and wage increases hit, warn IFS economists after Reeves Budget

The Institute for Fiscal Studies also stressed that much of the National Insurance rise on employers would feed through into smaller pay rises for workers

The Guardian - UK

Wednesday briefing: Five key messages that will define the budget

In today’s newsletter: Labour has told two stories about Rachel Reeves’ budget. Will it be an end to austerity – or an acceptance of “the harsh light of fiscal reality”?

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Evening Standard

Fact check: The proportion of adults paying income tax has risen since 2014

In the 2014-15 fiscal year around 30.7 million people paid income tax, and this reached 37.4 million a decade later.

The Guardian - UK

Rachel Reeves has promised not to raise taxes, so how can she fill budget coffers?

Chancellor said to be planning measures including raising employer NI contributions and capital gains tax rates. We consider the likelihood of each and the potential for a row

Evening Standard

Cabinet ministers angry at Budget cuts being demanded by Rachel Reeves told: We all face tough choices

But Education Secretary Bridget Phillipson insisted there would be no return to austerity

The Guardian - UK

No 10 rejects claim Labour misled voters about tax plans in manifesto – as it happened

Labour set out plans to raise taxes by £7.3bn in its manifesto – but Treasury briefing suggests £40bn in tax rises and spending cuts needed

The Independent UK

Row over claims Rachel Reeves could hike capital gains tax as high as 39%

Chancellor has dismissed Budget speculation but fears are rising over a massive tax hike to fill a £25bn black hole in her plans

The Guardian - UK

Thursday briefing: What the shock Badenoch-Jenrick leadership battle says about the future of the Tories

In today’s newsletter: Conservative MPs have whittled down the candidates to Kemi Badenoch and Robert Jenrick. What does that say about the direction of the party?

The Conversation

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.

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