Our goal at the Institute for Fiscal Studies is to promote effective economic and social policies by better understanding how policies affect individuals, families, businesses and the government's finances.

IFS on the Spending Review

The Chancellor delivered a joint Spending Review and Autumn Statement on Wed 25 Nov. The IFS will hold a lunchtime briefing the following day where researchers will present their analysis of the spending allocations for government departments and new announcements on the public finances and the tax & benefit system. Before then, a set of background materials summarises the outlook for the 2015 Spending Review and cuts to government departments.

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The options for calculating Scotland's block grant

The Scotland Bill, currently making its way through the Houses of Parliament, will transfer a range of tax and spending powers from Westminster to the Scottish Parliament. At the same time, an adjustment will have to be made to Scotland’s block grant funding from Westminster – a key part of the new “fiscal framework” Scotland will require when these powers are transferred. A new paper confirms that it is impossible to design a block grant adjustment system that satisfies the spirit of the ‘no detriment’ principle at the same time as fully achieving the ‘taxpayer fairness’ principle as set out in the Smith Commission.

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Younger cohorts at risk of being less wealthy than earlier generations

Wealth among working-age households increased on average by more than inflation over the late 2000s despite the financial crisis, a new IFS report finds. However, younger cohorts are on course to have less wealth at each point in life than earlier generations did at the same age – unless the rate at which they are accumulating wealth picks up.

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