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The Latest Breaking News from IFS

Is austerity over? Will farmers lose out? Six big questions about Rachel Reeves’s budget

The Labour chancellor unveiled lots of plans for long-term investment. But there is plenty of lively debate about the immediate impact

The Guardian - UK

Rachel Reeves’s budget survives contact with reality – for now

The chancellor, on the morning-after media round, just scraped a no-score draw despite a pervasive sense of unkept promises

The Guardian - UK

Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’

Rachel Reeves was forced to accept that her decision to raise employers’ national insurance contributions will lead to workers being paid less, but asked, ‘what alternative was there?’

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Spending plans mean £9 billion of cuts after next year, economists warn

Economists have suggested Labour’s longer-term spending plans are ‘extremely challenging’ and do not rule out a return to austerity.

Evening Standard

Rachel Reeves may need extra £9bn to avoid cuts to public services, says IFS

Institute for Fiscal Studies says chancellor may have to revisit tax plans to avoid real-terms cuts in some areas

The Guardian - 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

The Independent UK

Taxes will have to rise further despite Reeves’ £40bn tax grab, IFS director warns

Rachel Reeves has hit back at criticism of her Budget after the chancellor received backing from the International Monetary

The Independent UK

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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

Evening Standard

‘Budget not something I want to repeat ever again’ – Reeves

The Chancellor defended her first fiscal announcement and said she does not want to repeat the £40 billion tax rises she implemented.

Evening Standard

Five key charts: what will underpin 2024 budget statement by Rachel Reeves?

Labour chancellor to deliver budget after speculation over tax rises, debt rule changes and promised end to austerity

The Guardian - UK

What is Labour’s controversial private school VAT raid policy?

Rachel Reeves commits to new year tax rise in first Budget as chancellor

The Independent UK

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.

Evening Standard

Reeves warns that Budget pain will just be the beginning with more difficult choices to come

Rachel Reeves uses a pre-Budget visit to a hospital to warn that fixing Britain’s problems ‘will take more than one Budget’

The Independent UK

Rayner and Dowden clash over prospect of Budget tax rises at ‘battle of gingers’

The two took centre stage at Prime Minister’s Questions because of Sir Keir Starmer’s visit to Samoa.

Evening Standard

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The Independent UK

When is the Budget and what is the ‘stealth’ tax rise Labour are set to keep?

Millions could pay more income tax if ‘stealth’ policy is continued

The Guardian - UK

The Guardian view on tax and spend politics: dodging debate by fiddling with fiscal rules

Editorial: Is there any point to self-imposed restraints if they’re often broken? The chancellor should adopt a more transparent approach

The Guardian - UK

Don’t listen to the Tories – Labour is right to raise taxes

The rumoured rise in national insurance on employers makes sense. As for claims Labour promised not to do that: it didn’t, says Guardian columnist Polly Toynbee

The Independent UK

Keir Starmer’s warning to ministers after cabinet Budget row erupts

Angela Rayner leads revolt against ‘huge’ spending cuts in Rachel Reeves’s Budget

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news in one place.

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The Guardian - UK

Paul Johnson to leave influential IFS economics thinktank

Leading authority on tax and spending policy to depart Institute for Fiscal Studies next year for Queen’s College, Oxford

The Guardian - UK

Thursday briefing: The £40bn funding gap, £22bn ‘black hole’ and more tricky terms, explained

In today’s newsletter: Chancellor Rachel Reeves is painting a bleak picture ahead of the budget later this month. Here’s what all the jargon means

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

Evening Standard

Rachel Reeves 'rolling pitch for big tax rises' in Budget with £40billion plan briefing, says top economist

IFS director Paul Johnson believes Labour will break its election manifesto on tax

The Independent UK

How will the employer National Insurance rise affect you?

One expert has called the Labour measure a “straightforward breach” of its manifesto

The Independent UK

Reeves warned national insurance hike would be ‘straightforward breach’ of manifesto

Speculation is mounting that the chancellor is considering raising employer contributions

Evening Standard

Inflation-busting council tax rises of 5% may be in Rachel Reeves Budget, top economists warn

They also say that increasing employer National Insurance would be a ‘clear breach’ of Labour’s manifesto

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