The Institute for Fiscal Studies (IFS) has secured fresh core funding from the Economic and Social Research Council (ESRC) that will be worth almost £6.8 million over the five years from October 2010. This follows a lengthy open competition in which our research proposals and plans to engage with the users of our work were scrutinised by leading academics and other experts.

The ESRC's decision has been welcomed by the leading economic decision-makers from all the main UK political parties. Alistair Darling, the Chancellor of the Exchequer, said that the IFS had developed "a tremendous reputation for independent and impartial advice". George Osborne, the Conservative Shadow Chancellor, said that the IFS "treats all political parties fairly and says what it thinks". And Vince Cable, the Liberal Democrat Shadow Chancellor, said the IFS had set "the quality standard for serious work on public finance".

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