The Latest Breaking News from the Institute for Fiscal Studies

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

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”?

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

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

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

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

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

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?

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.

LABOUR should take inspiration from Scotland’s “more progressive and fair”, MPs have heard.