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Press release
Given the plans and forecasts set out in the UK government’s March 2016 budget, the Welsh Government’s budget could be cut by 3.2% in real terms over the next three years, with cuts largest in 2018-19 and 2019–20. If the Welsh Government chooses to protect the NHS budget in the same way as ...
Press release
Monica Costa Dias, William Elming and Robert Joyce
On average women in paid work receive about 18% less per hour than men. IFS research published today, funded by the Joseph Rowntree Foundation, shows that the wage gap is much smaller when comparing young women – before they become mothers – to their male counterparts. But the gap widens ...
Press release
A new IFS briefing note published today shows how the historical increase in the graduate proportion did not lower graduates’ relative wages. However, the research also suggests that further expansion of higher education in the future could lower graduates’ relative wages.
Press release
The UK public has voted to leave the European Union. But the economic choices that still face us are very big. Perhaps the most important is the choice over whether the UK retains membership of the single market. Despite the efforts of some to confuse the issue “membership of” the single market ...
Press release
Recent years have seen a truly remarkable transformation in patterns of low income in the UK. One great success is that pensioner incomes have grown so much and, after housing costs, they are now the least likely major demographic group to be in income poverty. Another is that more people are in ...
Press release
Rebecca Allen, Chris Belfield, Ellen Greaves, Caroline Sharp and Matt Walker
Teacher recruitment and retention are increasingly challenging for schools as the pools of graduates in key subjects decline and pupil numbers grow. New IFS research released today reveals around 40% of teachers who begin their initial training are not in a state school job five years later. That ...
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New IFS analysis on inequality in childhood, which form part of the IFS’s forthcoming flagship annual report on Living Standards, Poverty and Inequality in the UK, funded by the Joseph Rowntree Foundation.
Press release
We examine both the direct and indirect effects of Brexit on the UK’s public finances, based on a comprehensive review of studies analysing the short- and long- term economic effects of Brexit.
Press release
School spending in England has become increasingly targeted at schools with pupils from poorer backgrounds over the past 20 years. As a result, spending per pupil in 2013–14 amongst the 20% of secondary schools with the poorest pupils was £1,800 more than spending per pupil in the richest 20% ...
Press release
Graduates from richer family backgrounds earn significantly more after graduation than their poorer counterparts, even after completing the same degrees from the same universities. This is one of many findings in new research published today which looks at the link between earnings and students’ ...
Press release
Scotland’s Fiscal Framework – an essential part of the devolution of new tax and welfare powers – was finally agreed one month ago, after many months of tortuous negotiations. The most difficult thing to agree was how to adjust the Scottish Government’s block grant funding to account for ...
Press release
James Browne and Andrew Hood
Strong employment growth has reduced the number of people living in households with incomes below a fixed poverty line over the last two years, but planned cuts to benefits and tax credits will mean no growth in the incomes of poorer households on average over the next five years. These are among ...
Press release
Savers face a complex and changing array of different tax treatments. These differences are big and can make the cost of choosing the ‘wrong’ savings vehicle very large. In addition apparently small differences in fees and charges can outweigh the effects of different tax treatments. Meanwhile ...
Press release
The IFS Green Budget 2016, produced in association with ICAEW and funded by the Nuffield Foundation with analysis from Oxford Economics, is published today. November’s Spending Review was not the last chapter in the Chancellor’s fiscal consolidation. Having set himself a very inflexible target ...
Press release
James Browne, Andrew Hood and Robert Joyce
During this parliament the government plans to replace most of the means-tested benefits system for working-age families with a single payment called universal credit (UC). A series of pre-emptive cuts mean that introducing UC will in the long run reduce the generosity of the benefit system – ...
Press release
Distilling microeconomics research into direct policy implications will be the focus of a new website developed by researchers at the Institute for Fiscal Studies, University College London, Princeton University, Harvard University, London School of Economics Northwestern University, University of ...
Press release
The Scotland Bill, currently making its way through the Houses of Parliament, will transfer a range of tax and spending powers from Westminster to the Scottish Parliament. At the same time, an adjustment will have to be made to Scotland’s block grant funding from Westminster – a key part of the ...
Press release
Rowena Crawford, David Innes and Cormac O'Dea
Wealth among working-age households increased on average by more than inflation over the late 2000s, despite the financial crisis. This was driven by increases in pension wealth, which on average more than offset the declines in housing wealth resulting from falling house prices. However, younger ...
Press release
Stuart Adam, Daniel Chandler, Andrew Hood and Robert Joyce
Reductions in social rents announced in the July Budget will be of little or no direct benefit to most of the 3.9 million households in England living in social housing. The consequent reduction in housing benefit will save the exchequer money, and will strengthen tenants’ work incentives as they ...
Press release
The director of the Institute for Fiscal Studies (IFS) Paul Johnson says the current generation of pensioners is better off than ever before, and for the first time have incomes higher on average than the rest of the population (Tuesday 20 Oct 2015).