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.

If Hammond hits reset, it won’t mean Osborne got it wrong

If our new Chancellor changes tack it will not be because he thinks his predecessor got everything wrong; it will be because he is dealing with a new economic reality requiring a new response. The vote on June 23 pushed a big red economic reset button. The fiscal reset will be merely a response to that, IFS Director Paul Johnson writes in The Times.

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What is happening to poverty and inequality in the UK?

We have published our annual flagship report 'Poverty and Inequality in the UK' which shows that recent years have seen a truly remarkable transformation in patterns of low income in the UK. We argue that the big challenge on living standards is to boost incomes for those in work.

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Costs and benefits of different initial teacher training routes

In a new report, funded by the Nuffield Foundation, we show how routes into teaching have changed in recent years, and look at the costs, benefits and retention rates for each route.

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Sterling’s slide is not good news

If the value of the pound falls relative to the value of other currencies, that makes those of us whose earnings or savings or investment income is in pounds poorer. It is both a warning about the future path of the economy and an immediate hit to our standard of living, writes IFS Director Paul Johnson in The Times.

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"What works" in local councils?

We have now published the first set of results to come out of the evaluation on different ways to get citizens more involved in the delivery of public services. A new IFS Briefing Note sets out the empirical results and policy implications of the evaluation, which was undertaken in partnership with Lambeth Council and was supported with funding from the ESRC.

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Average incomes in 2014-15 above previous peak

Median household income in the UK rose by 3% in 2014–15 after adjusting for inflation. This was the fastest rise in average incomes since the early 2000s, finally taking median income 1% above its previous peak, and was accompanied by income growth right across the distribution. These are the most striking findings from the latest official statistics on the distribution of household income by the DWP. We set out some of the reasons for the strong income growth, and highlight some of the other things we learn from the new statistics. On 19th July, we will launch a detailed report, funded by the Joseph Rowntree Foundation.

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We are in uncharted waters

As we set sail into uncharted economic waters, it is worth asking not just where we are going but where we start from. For while we start from a better place than we were at in 2010, the truth is we don’t even really understand what that place is, let alone where we are headed. New article by IFS Director Paul Johnson.

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