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The Latest Breaking News from IFS

Forget post-election tax cuts, we’re stuck in a lost decade, says IFS

The IFS has cast its eye over Jeremy Hunt’s Budget as millions of Britons face being dragged into paying more income tax

Evening Standard

Jeremy Hunt is helping rich instead of helping people into work, says thinktank

IFS says budget pensions giveaway could open up loophole for avoidance of inheritance tax

The Guardian - UK

Jeremy Hunt’s ‘back to work’ Budget sees pension limits scrapped and free childcare extended

Labour says changes to pension pots will benefit ‘richest 1 per cent’

The Independent UK

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Freezing fuel duty is a ‘political choice’ by Hunt, says IFS

The Institute for Fiscal Studies said the £6 billion could have funded an inflation-matching pay offer to public sector workers.

The Independent UK

Budget 2023: Jeremy Hunt reveals £11bn for defence spending

Brings UK military spending to 2.25% of GDP by 2025, says chancellor

The Independent UK

The Tories could raise billions in this budget and not spook the markets – but they haven’t got the guts

Rational reforms of our wildly unjust tax system could harvest huge sums, says Guardian columnist Polly Toynbee

The Guardian - UK

Parents on universal credit may be allowed to claim more for childcare

Increase expected in spring budget, which could also mandate upfront childcare payments from DWP

The Guardian - UK

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Two-thirds of UK women say childcare duties affected career progression

BCC says tackling barriers to work such as soaring childcare cost vital for a strong economy as well as equality

The Guardian - UK

Budget ‘could bring disability benefit reform to push people back to work’

Jeremy Hunt will reveal Spring Budget on 15 March as country battles soaring inflation, rising interest rates and high food prices

The Independent UK

Cost of living crisis prompting over-50s in UK to seek work, thinktank suggests

IFS says trend may ease pressure on labour market, but it is ‘no cause for wider celebration’ if it is triggered by people being poorer

The Guardian - UK

Leeds teachers 'haven't got much left' as they join huge rally and strike

Anita Smith, who has been teaching for 30 years, said "we're doing more with less every year"

Leeds Live

Cancelling fuel duty freeze could pay for public sector pay rise, says IFS

Tax and spending watchdog says pay rises would not cause inflation

The Guardian - UK

Jeremy Hunt can afford public sector pay rises at March Budget, says IFS

Ditching fuel duty freeze could pay for more generous settlement, suggests think tank

The Independent UK

People paying into a pension can boost retirement savings at three key points during their lifetime

Knowing when to make changes to your pension could increase your later-life income.

Daily Record

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The Independent UK

Nudging pension savers at key life stages ‘could boost retirement outcomes’

The Institute for Fiscal Studies said when employees do have extra cash available very few put any of it into their pension.

Daily Mirror

Warning as 820,000 people could miss out on £900 cost of living payment

The Institute for Fiscal Studies said around 825,000 people could miss out on the payments because they earn "slightly" more than what you can to get Universal Credit

Nottingham Post

Thousands who miss out on DWP Cost of Living Payment 'will end up poorer than those who get it'

A think tank has slammed the payment as a 'crude patch' for dealing with long-running problems with the benefits system

Liverpool Echo

Many Universal Credit claimants to miss out on DWP Cost of Living payments

Hundreds of thousands of people could be "better off earning less", a think tank has warned

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Manchester Evening News

DWP cost of living payments are making some families 'worse off', think tank claims

A think tank described the cost of living payments as “crudely targeted”

Daily Record

More than 820,000 people on Universal Credit expected to miss out on new £900 cost of living payment

The first part of the means-tested cost of living payment is worth £301 and due to be made this Spring.

Wales Online

Many benefits recipients will be worse off until April 2025, warns think tank

The Institute for Fiscal Studies also believes hundreds of thousands of people could be in a better position financially if they earned less

The Independent UK

Many benefits recipients will be worse off until April 2025, IFS warns

Government cost-of-living payments are a ‘crude patch’ which cost around £2bn more than if benefits had risen with inflation, the think tank said.

The Guardian - UK

My generation is sucking Britain’s young people dry. Why are politicians too scared to admit it?

The social contract between young and old is broken and inequality is out of control. The government must step in, says Guardian columnist Polly Toynbee

The Guardian - UK

‘Bank of mum and dad’ stoking Britain’s rising inequality, warns report

Billions in gifts or loans given when children are in early adulthood and buying first home or getting married

The National (Scotland)

Scotland's tax and benefits system more progressive than rest of UK, report finds

SCOTLAND’S tax and benefits system is now considerably more progressive than elsewhere in Britain, a report has found.

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