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Press release
A number of changes to the tax and benefit system have been announced for implementation in the current parliament as part of the government’s deficit reduction programme. An analysis by researchers at the Institute for Fiscal Studies (IFS) finds that the package of changes to tax, tax credits ...
Press release
Two major changes to student finance were proposed in the Budget. The replacement of maintenance grants by loans from 2016–17 will raise debt for the poorest students, but do little to improve government finances in the long run. The proposed freezing of the repayment threshold for loans, on the ...
Press release
Rising employment between 2009–10 and 2013–14 led to increases in the proportion of children living with working parents. At the same time, falls in real earnings reduced the incomes of working families. These two contrasting trends led to absolute child poverty remaining unchanged overall in ...
Press release
The pace of public workforce cuts is likely to accelerate over the new parliament. Conservative party plans outlined in their manifesto imply a further reduction in the public workforce of 580,000 between 2014–15 and 2018–19, unless the government imposes further public pay restraint. The last ...
Press release
Rachel Griffith of the Institute for Fiscal Studies (IFS) has been recognised in the Queen’s Birthday Honours and made a CBE for her services to economic policy.
Press release
With significant deficit reduction still to come, households can expect the tax and benefit changes implemented over the next parliament to reduce their incomes, on average. There are large differences between the Conservatives, Labour and the Liberal Democrats in how they propose to do this. But ...
Press release
Rowena Crawford, Carl Emmerson, Soumaya Keynes and Gemma Tetlow
New research, published today by the IFS and funded by the Nuffield Foundation, analyses the public finance implications of these political parties’ election manifesto commitments, and sets out the size and composition of the future fiscal tightening that each appears to be planning.
Press release
Almost three times as many people interact with the benefit system over an 18 year period than in a single year on average. As most analyses of benefit reforms are based on measures of individuals’ circumstances at a particular point in time, often a week or a month, they will understate the ...
Press release
Overall current or day-to-day school spending in England has been remarkably well protected under the coalition government. Over the next parliament, current spending on schools could be squeezed harder. Although the commitments made by the three main UK parties are subtly different, they could all ...
Press release
The Economic and Social Research Council today announced the renewal of funding for the Centre for the Microeconomic Analysis of Public Policy at the IFS. Running for five years from this Autumn, the centre will again be led by IFS research director Professor Sir Richard Blundell.
Press release
David Innes and Gemma Tetlow
The spending power of local authorities in England has been cut substantially during this parliament. We find that local authorities’ spending per person has been cut by 23.4% in real terms between 2009–10 and 2014–15, using a comparable definition of net spending on services over time by ...
Press release
Jonathan Cribb, Andrew Hood and Robert Joyce
New IFS projections suggest median (middle) household income in 2014–15 is at around the same level as it was in 2007–08 before the recession. But the recovery in living standards that began in 2011–12 has been much slower than after the three previous recessions. These are among the main ...
Press release
The IFS Green Budget 2015, in association with ICAEW and funded by the Nuffield Foundation with analysis from Oxford Economics, is published today. Debt is set to peak at over 80% of national income. The deficit is still more than 5% of national income. The fact that they remain so high largely ...
Press release
The employment rate has returned to its pre-crisis level, but wages remain well below their 2008 peak. Median hourly wages, adjusted for (RPIJ) inflation, were still 4.7% lower in 2014 than in 2008 (according to the Annual Survey of Hours and Earnings). New IFS analysis looks at changes to wages ...
Press release
James Browne and William Elming
Taking coalition tax and benefit changes as a whole, we find they have reduced the incomes of low-income households with children and the very richest households by the most as a percentage of income.
Press release
As the general election approaches the governing and opposition parties are making claim and counter claim not just about each other’s policies, but about what has actually happened over the past five years. Now more than ever careful, objective, accurate analysis is required to assess the claims ...
Press release
A new report published today by the IFS, funded by the Economic and Social Research Council (ESRC), looks at how the Barnett formula interacts with business rates (a tax that is already fully devolved to Scotland and Northern Ireland), and the lessons that can be learned for further tax devolution.
Press release
In new research led by the Institute for Fiscal Studies, produced in collaboration with the Institute for Education and the National Foundation for Educational Research with funding from the Nuffield Foundation, we provide the first estimates of the likely costs and benefits involved in providing ...
Press release
Big increases in food and energy prices mean that poorer households have experienced larger increases in their living costs than have richer households. If one were to take account of differential inflation since 2010-11 the numbers of people recorded in “absolute poverty” would have been about ...
Press release
Amongst those who go to university, students from less affluent backgrounds are more likely to drop out and less likely to graduate with a first or upper second class degree than their peers from more affluent backgrounds. This is true even amongst those on the same course who arrived at university ...