Briefing Note (BN126)

Tax and benefit reforms due in 2012-13, and the outlook for household incomes

Date: 08 March 2012
Authors:
DOI: 10.1920/bn.ifs.2012.00126

This Briefing Note is intended to provide background to the Chancellor's Budget on 21 March 2012. It first gives an overview of the tax and benefit reforms currently planned for the coming financial year and their likely impact on household incomes. It then considers the outlook for household incomes in the near future more broadly, given current macroeconomic forecasts of variables such as employment and earnings as well as planned tax and benefit policy.