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The Latest Breaking News from IFS

What the autumn statement means for financially struggling schools

The cost-of-living crisis and new staffing costs have been pushing schools in England into financial trouble. So school leaders were relieved to hear of an increase to their budget in the government’s autumn statement, delivered on November 17.

The Conversation

Rayner demands general election after Hunt unveils ‘nightmare’ Budget

IFS warns UK economy damaged by series of own goals, including Liz Truss’s mini-Budget

The Independent UK

Jeremy Hunt told to ‘come clean’ on economic cost of non-dom tax status

The IFS said abolishing non-doms would be worth around £3bn a year to the economy – roughly the same amount that will be added to next year’s NHS budget

The Independent UK

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How the autumn statement brought back the ‘squeezed middle’

Respected thinktanks say Jeremy Hunt’s policies will shock Middle England, with higher taxes here to stay

The Guardian - UK

Autumn Statement reaction: Higher tax ‘here to stay’ as pain goes on

New warning that burden unlikely to return to pre-Covid level ‘any time in coming decades’

Evening Standard

The British people ‘just got a lot poorer’, says IFS thinktank

UK has scored ‘a series of economic own goals’, Institute for Fiscal Studies says after autumn statement

The Guardian - UK

Autumn Statement: Brits 'just got a lot poorer' with Middle England 'set for a shock'

After the Autumn Statement, the director of the Institute for Fiscal Studies Paul Johnson said he would be 'most surprised' if the tax burden returns to pre-Covid average 'at any time in the coming decades'

Daily Mirror

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Minority ethnic Britons’ educational success not reflected in pay, study finds

‘Clear evidence’ of discrimination in terms of salary and careers despite academic progress, IFS study finds

The Guardian - UK

Inflation will erode funding for early years care, finds IFS

Report foresees funding for childcare places in England falling by 8% over next three years

The Guardian - UK

Stealth tax rises Rishi Sunak is plotting next week would raid £35bn a year from Brits

Experts the IFS said extending a freeze on Income Tax and National Insurance thresholds to 2028 would be a huge windfall - and leave families with 'lower living standards'

Daily Mirror

Rising asset wealth and falling real wages ‘drive inequality in Britain’

Young people no longer able to rely on hard work to improve their living standards as they age, says IFS

The Guardian - UK

‘No fat left to trim’: how spending cuts could affect UK government

As Rishi Sunak warns of a ‘profound economic challenge’, struggling departments face reduced budgets

The Guardian - UK

Institute for Fiscal Studies warns against cutting spending on sixth forms

Thinktank says any reduction would ‘sit uncomfortably’ with pledge to focus on skills and economic growth

The Guardian - UK

What changes have been made to the TfL cable cars?

The bright red cable cars are no more as their new look and name are revealed

Evening Standard

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Evening Standard

Cloudbusting: London cable car gets new £2.1m sponsor and purple makeover

The London cable car has a new look after Transport for London secured a new sponsorship deal worth up to £2.1m over the next five years.

The Independent UK

Broken funding systems for public services ‘preserve geographic inequalities’

With reform of the systems unlikely due to public spending cuts, levelling up is in danger, according to a new report.

The Independent UK

Liz Truss U-turn will send taxes to highest levels since 1950s

But economists warn more pain yet to come with spending cuts

Daily Record

Independent Scotland could face 'bigger cuts to spending and higher tax rises' than rest of UK

The Institute for Fiscal Studies said the latest Scottish Government briefing paper on independence "skirts around" tough spending choices.

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The Independent UK

Pound falls after Liz Truss U-turn, as IFS warns ‘piecemeal’ changes won’t cut it

Sterling dips and cost of government borrowing rises despite PM’s bid to reassure markets

Daily Mirror

Why Liz Truss' pledge not to cut public spending is not all that it seems

Critics believe the Prime Minister has three options: U-turn and cut spending, U-turn on tax cuts, or keep going and drive the economy off a cliff. Some of the answers may lie in the detail

Evening Standard

No return to austerity under Liz Truss despite budget shortfalls, says Downing Street

The Prime Minister also remained ‘committed’ to the growth measures set out in the Chancellor’s mini-budget, her official spokesman said

The Independent UK

Bank of England expands push to stabilize financial markets

The Bank of England has expanded its emergency effort to stabilize the financial markets amid concerns the government’s plan to slash taxes pose a “material risk” to Britain's fiscal stability

The Independent UK

No return to austerity under Liz Truss, says Downing Street

The Prime Minister also remained ‘committed’ to the growth measures set out in the Chancellor’s mini-budget, her official spokesman said.

The Independent UK

Liz Truss deserves ‘benefit of the doubt’ after sparking market turmoil, JP Morgan chief says

Jamie Dimon says he would ‘like to see the new PM be successful’

Wales Online

Government needs £60bn public spending cuts to tax giveaway

Institute for Fiscal Studies says it is not possible to deliver cuts on that scale through efficiency savings

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