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Internal Treasury projections leaked to the Conservatives imply that the rise in Whitehall spending on public services as a share of national income that we have seen under Labour to date may need to be completely reversed to fill the hole in the public finances - unless we see further tax increases or cuts in welfare payments - according to a new analysis by IFS researchers.
What would you do? Our DIY Spending Review tool allows you to set your own plans for total spending and decide how you would slice the cake.
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Recent IFS Press Releases
Those born in the '60s and '70s likely to be no better off in retirement than their predecessors-unless they inherit
Inherited wealth looks like the only major factor that could act to make individuals born in the 1960s and 1970s better off in retirement than their predecessors, on average.
Independent Scotland would face tougher long-run fiscal challenge than the UK as a whole
An independent Scotland would require a significant cut in spending or increase in taxes, over and above that already announced by the UK government, in order to put their long-term public finances onto a sustainable footing.
Since 2008 food spending fails to keep pace with rising food prices and nutritional quality of calories falls / Long term decline in calorie purchases despite increase in calories from eating out, snacks and soft drinks
These are the key headlines from two new pieces of research published by the Institute for Fiscal Studies and due to be presented today as part of the ESRC Festival of Social Science.