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The Latest Breaking News from IFS

Robison advised to ‘bank’ some of Budget spending boost ahead of tough choices

The Finance Secretary would be wise to carry over some of the additional £1.5 billion from the UK Budget this year, the IFS think tank has said.

Evening Standard

Inheritance tax on farms should be delayed to avoid unfairness, says thinktank

IFS suggests making gifts of land before a certain date tax-free so that elderly farmers would not be caught out

The Guardian - UK

Fewer than 500 farms a year will be hit by inheritance tax changes, says IFS

The economics think tank said tax planning would likely decrease the number of farms caught up by the tax reforms

Evening Standard

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Fewer than 500 farms a year likely to be hit by tax changes – think tank

The economics think tank said tax planning would likely decrease the number of farms caught up by the tax reforms.

The Independent UK

Many farmers ‘wrong’ about inheritance tax change, Environment Secretary says

Steve Reed rejected claims that the Government has underestimated how many will be affected by the plans.

Evening Standard

Michael Marra 'ridiculous' for criticising Scottish higher taxes, say SNP

THE SNP have branded a Labour MSP “ridiculous” after he criticised Scotland having higher taxes for the wealthy.

The National (Scotland)

'Uncertainty' over whether SNP tax policy has cut revenues, says think tank

RESEACHERS have said they are unable to establish whether higher taxes in Scotland have cut Government revenues.

The National (Scotland)

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OPINION - What happened when London's youth clubs shut

Exactly what you’d expect, to be honest

Evening Standard

'Damning': London youth club closures led to increase in crime, report suggests

Mayor of London, Sadiq Khan described the report as ‘damning’

Evening Standard

Youth club closures led to increased offending and worse GCSE results – IFS

The impact of the closures in London was even more severe for disadvantaged pupils, according to the working paper.

The Independent UK

Scottish independence group issues convention update amid Alex Salmond memorial clash

A SCOTTISH independence group has postponed a convention it had planned for St Andrew's Day to avoid a clash with a memorial for Alex Salmond.

The National (Scotland)

Work experience can tackle school absences, says Manchester airport boss

Ken O’Toole says companies should be made to give young people workplace opportunities long before they turn 15

The Guardian - UK

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

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The Independent 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?’

Evening Standard

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.

The Guardian - UK

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 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

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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

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

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.

The Guardian - UK

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 Independent UK

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

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

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 Independent UK

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’

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