The IFS is non-profit and non-political and receives funding from arrange of sources, including the Economic and Social Research Council, UK Government departments, foundations, the European Union, international organisations, companies and other non-profit organisations. Funding is received either for specific research projects or via our two ESRC research centres, the Centre for the Microeconomic Analysis of Public Policy and the Centre for Microdata Methods and Practice.
The majority of IFS income goes directly to specific research projects. Below is a list showing income from individual funders for projects current in 2014. The first column shows income specifically for 2014; the second shows all income raised for current projects, many of which span several years.
Download a list of detailing all current projects and associated income.
Following recent interest, this paragraph clarifies funding awarded to IFS from EU agencies.
Since 2009, IFS has been awarded 7.5 million euros from the European Research Council (ERC). Grants from the ERC include: Microeconomic Analysis of Prices, Food and Nutrition (start date 2010), The Welfare State in a Complex World Taxes and Benefits in a Diverse Society (start date 2011) and Research on microeconometrics: Identification, inference and applications (start date 2016).
The ERC “operates with autonomy” and its mission is to “encourage the highest quality research in Europe through competitive funding and to support investigator-driven frontier research across all fields, on the basis of scientific excellence”. The sole evaluation criterion it has for awarding grants is “scientific excellence of researcher and research proposal”: https://erc.europa.eu/funding-and-grants/funding-schemes. ERC funding schemes are “open to top researchers of any nationality or age who wish to carry out their frontier research in the 28 EU Member States or associated countries”, which include countries as diverse as Norway and Israel as well as EU Member States.
Funding since 2009 from other European Union agencies, such as the European Commission, amounts to 300,000 euros.
Over this period, funding from EU agencies represent, on average, 11% of our research funding.
|Funder||2015 grants (£)|
|Adam Smith International||14,392|
|Bernard Van Leer Foundation||10,300|
|Children's Investment Fund Foundation||76,173|
|Department for International Development (via OPM)||88,276|
|Department for Work and Pensions||101,845|
|Economic and Social Research Institute||198,185|
|Education Endowment Foundation||166,710|
|European Research Council||132,899|
|Financial Conduct Authority||5,922|
|Grand Challenges Canada (via University of the West Indies)||7,352|
|Growth and Labour Markets in Low Income Countries Programme||61,993|
|Institute of Chartered Accountants in England and Wales||36,479|
|Joseph Rowntree Foundation||109,352|
|London School of Economics and Political Science||14,760|
|Medical Research Council (via Bangor University)||3,521|
|Michigan Retirement Research Center||21,282|
|National Insistutes of Health (via Pennsylvania State University)||5,489|
|National Institute on Ageing (via UCL)||39,968|
|Northern Ireland Human Rights Commission||2,235|
|Office of the First Minister and Deputy First Minister||54,819|
|Private Enterprise Development in Low-Income Count||57,189|
|Public Economics UK||3,000|
|Research Council of Norway||19,522|
|Research Councils UK||27,048|
|Retirement Savings Consortium (2015-2017)||20,166|
|Royal Economic Society||4,000|
|Save the Children Fund||8,382|
|Trust for London||66,345|
The Institute also generates a small contribution to its overall costs from its members (1.4%) including corporate members (1%), publication of the Institute’s quarterly journal, Fiscal Studies (0.6%), and its events programme (1.3%).
£1,000 - £10,000
Bank of England
BP International Ltd
Chartered Institute of Public Finance & Accountancy, CIPFA
Chartered Institute of Taxation (CIOT)
Confederation of British Industry
Elliot Advisors (UK) Ltd
Freshfields Bruckhaus Deringer LLP
GE International Inc
Gibson, Dunne and Crutcher
HM Revenue and Customs
H M Treasury
HSBC Holdings Plc
Lane Clark & Peacock
Pension and lifetime Savings Association
The Metropolitan Police
The Russell Group
Wellington Management International Ltd
Zurich Financial Services
>£100 - £1,000
House of Commons Library
John Swire & Sons Ltd
Investment Management Association
Office for National Statistics
Tax Incentivised Savings Association (TISA)
The Tax Faculty, ICAEW
Travers Smith LLP