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Autumn Budget 2018

Chancellor Philip Hammond delivered his Autumn Budget Statement on Monday 29 October 2018. Below is some initial commentary from IFS Director Paul Johnson and IFS researchers.

IFS Budget briefing

Analysis was presented at a briefing on Tuesday 30 October 2018. Slides from the briefing:

Comment

 

Do we have enough money now? What is a fair tax rate and how much tax do people pay?

"What we think is a fair tax rate depends on who we think of when we think of a rich person". IFS Associate Director Helen Miller gives her thoughts in 'Beyond Today', a new BBC Radio 4 podcast. Listen here.

Does the 2018 Autumn Budget mark a dramatic change in economic terms?

"If you look at total spending beyond the NHS it's not really going anywhere. If you look at total spending as a fraction of national income, it's not really going anywhere...This is not a dramatic change in the sense of undoing mcuh of the cuts we've had over the last eight years". IFS Director Paul Johnson joins the Today programme (at 01:09). Listen here.

 


Background analysis

Green Budget 2018

Our annual Green Budget looks at the issues and challenges facing Chancellor Philip Hammond as he prepares for his Budget. The full report, published on 16 October, includes commentary and analysis on risks to the public finances, options for raising taxes and trade-offs for the forthcoming spending review. Citi provide an economic outlook for the UK economy and ICAEW look at defence spending and public sector assets.

Will it be a victory for spreadsheet Phil or for political expediency?

IFS Director Paul Johnson writes in The Times, Monday 29 October. 

  • View full Times article on the IFS website here

An end to austerity?

 

IFS analysis suggests that even a minimal definition of ending austerity would require an additional £19bn in 2022-23