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....Neither the Conservatives nor Labour are being honest with voters about the economic consequences of their policy proposals, an influential think tank has warned. The Institute for Fiscal Studies said the Tories had very few tax or spending commitments in their manifesto. ... [Read full article on BBC ]
Friday 26th of May 2017 08:21:41 AM
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.... As Wren-Lewis reminds us, recoveries from past recessions have been characterised by periods of rapid growth. No such luck in this decade, and, having analysed the Conservative manifesto, the Institute for Fiscal Studies emphasises that what is in store if they get back with untrammelled authority is at least five more years of austerity. ... [Read full article on Guardian ]
Sunday 4th of June 2017 05:59:15 AM
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.... A third U-turn – relaxing fiscal policy (cutting taxes or raising spending) so that monetary policy (interest rates) can be tightened would make a lot of sense and is long overdue. As the Institute for Fiscal Studies pointed out last week, government resistance to changing its macro-economic approach will inevitably lead to increased financial pressure on the NHS. ... [Read full article on Guardian ]
Sunday 28th of May 2017 12:14:58 PM
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....A plague on both your houses. That, put simply, is the considered view of the Institute for Fiscal Studies on the tax and spending pledges made by the Conservative and Labour parties in their election manifestos. ... [Read full article on Guardian ]
Friday 26th of May 2017 12:32:34 PM
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....”. Carl Emmerson, at leading thinktank the Institute for Fiscal Studies, said any change of tack was likely to take the form of higher borrowing by the government. ... [Read full article on Guardian ]
Saturday 17th of June 2017 03:00:41 PM
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.... Or at least they need to be convinced that a competent Labour leadership, armed with a coherent set of policies, can make their lives better. The Institute for Fiscal Studies was not kind to Labour following its assessment of the main political party manifestos. ... [Read full article on Guardian ]
Saturday 27th of May 2017 04:00:32 PM
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.... O’Grady urged young people to join a union, arguing that it was likely to improve terms and conditions. In an era of stagnation in wages – the Institute for Fiscal Studies expects average real earnings to be no higher in 2022 than they were before the financial crisis, a situation it describes as “unprecedented” – it was more important than ever for people to join a union, she added. ... [Read full article on Guardian ]
Thursday 1st of June 2017 10:43:25 AM
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....The state pension has grown at almost double the rate of the average income in recent years thanks to the triple lock. The Institute for Fiscal Studies (IFS) said in its recent assessment: “Between April 2010 and April 2016 the value of the state pension has been increased by 22. ... [Read full article on Daily Express ]
Monday 12th of June 2017 12:48:00 PM
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Latest Finance News related to Institute For Fiscal Studies

Pensions triple lock: What is the triple lock and will Theresa May get rid of it? image
....The state pension has grown at almost double the rate of the average income in recent years thanks to the triple lock. The Institute for Fiscal Studies (IFS) said in its recent assessment: “Between April 2010 and April 2016 the value of the state pension has been increased by 22. ...
How will the General Election affect your money? Pensions, savings and tax compared  image
.... Labour has said it would raise the cap, but also not given a figure. Garden Tax According to analysis by the Institute for Fiscal Studies (IFS) Labour would raise taxes to their highest ever peacetime levels to pay for spending. ...
Let’s hope a hung parliament can halt the Brexit disaster image
Source : Guardian [Read Article] Sunday 4th of June 2017 05:59:15 AM
.... As Wren-Lewis reminds us, recoveries from past recessions have been characterised by periods of rapid growth. No such luck in this decade, and, having analysed the Conservative manifesto, the Institute for Fiscal Studies emphasises that what is in store if they get back with untrammelled authority is at least five more years of austerity. ...
Trade union membership has plunged to all-time low, says ONS image
Source : Guardian [Read Article] Thursday 1st of June 2017 10:43:25 AM
.... O’Grady urged young people to join a union, arguing that it was likely to improve terms and conditions. In an era of stagnation in wages – the Institute for Fiscal Studies expects average real earnings to be no higher in 2022 than they were before the financial crisis, a situation it describes as “unprecedented” – it was more important than ever for people to join a union, she added. ...
Far from ‘strong and stable’, May’s economic plan is weak and unstable image
.... A third U-turn – relaxing fiscal policy (cutting taxes or raising spending) so that monetary policy (interest rates) can be tightened would make a lot of sense and is long overdue. As the Institute for Fiscal Studies pointed out last week, government resistance to changing its macro-economic approach will inevitably lead to increased financial pressure on the NHS. ...
Labour’s hope doesn’t usually play well in an age of anxiety image
Source : Guardian [Read Article] Saturday 27th of May 2017 04:00:32 PM
.... Or at least they need to be convinced that a competent Labour leadership, armed with a coherent set of policies, can make their lives better. The Institute for Fiscal Studies was not kind to Labour following its assessment of the main political party manifestos. ...
Winter Fuel Allowance: Tory means-testing to give 'trivial' savings, blasts IFS image
. Pensioners above an arbitrary income threshold are set to lose up to £300 given to help pay energy bills through the Winter Fuel Allowance, but the move would not generate significant boost for the state, said the Institute for Fiscal Studies (IFS) in a scathing assessment of the party's manifesto. ...
IFS to voters: you have a choice between the 'undeliverable' or 'unworkable' image
....A plague on both your houses. That, put simply, is the considered view of the Institute for Fiscal Studies on the tax and spending pledges made by the Conservative and Labour parties in their election manifestos. ...
Tories and Labour not being honest with voters: IFS image
Source : BBC [Read Article] Friday 26th of May 2017 08:21:41 AM
....Neither the Conservatives nor Labour are being honest with voters about the economic consequences of their policy proposals, an influential think tank has warned. The Institute for Fiscal Studies said the Tories had very few tax or spending commitments in their manifesto. ...
Forget Brexit, the real challenge is creating enough wealth for an ageing population image
.... Leaving simply means that the challenge cannot be ducked as it has been in the past. The Institute for Fiscal Studies has highlighted the extent of the demographic pressures and what they mean for the public finances. ...
Election 2017: State pension triple lock battle lines drawn image
Source : BBC [Read Article] Thursday 18th of May 2017 02:32:16 PM
.... . Figures from the Institute for Fiscal Studies (IFS) showed that total pension spending had increased by 25% since 2010-11, compared with a 14% rise in earnings and a 15% rise in prices, prompting the IFS economists to declare that any long-term commitment to the triple-lock would be "unaffordable". ...
Labour gambles on tax and spend – but will the public back it? | Larry Elliott image
....4bn comes from a 45% income tax for those earning more than £80,000 a year and a 50% rate for those earning more than £123,000 a year. The Institute for Fiscal Studies estimates that those earning between £80,000 and £100,000 a year will be paying between zero and £1,000 in extra tax a year, while somebody earning between £123,000 and £150,000 will be paying between £2,725 and £5,425 more a year. ...
Battle ground image
Source : BBC [Read Article] Sunday 14th of May 2017 01:14:58 AM
....This analysis piece was commissioned by the BBC from an expert working for an outside organisation. Helen Miller is an associate director at the Institute for Fiscal Studies and its head of tax. ...
Theresa May is creating an epidemic of poverty. Don’t give her a free hand | Gordon Brown image
.... Overall poverty, which hit 12. 5 million people in the 80s and 14 million in the mid-90s, is, according to a study by the Institute for Fiscal Studies and Rowntree, set to reach a new high of 14. ...
National minimum wage increases could cost jobs, IFS warns image
Source : BBC [Read Article] Wednesday 10th of May 2017 11:30:22 PM
. Labour and Conservative plans to increase the National Minimum Wage (NMW) could cost jobs, according to the Institute for Fiscal Studies. ...
Dramatic minimum wage rises will put low-paid jobs at risk, says IFS image
Source : Guardian [Read Article] Wednesday 10th of May 2017 05:47:26 PM
....Dramatic increases in the minimum wage planned by Labour and the Conservatives after the general election will put the jobs of low income workers in danger, a leading tax and spending thinktank has warned. The Institute for Fiscal Studies said accelerating the pace of rises in the minimum wage and the “national living wage” (NLW) for the rest of the decade could price workers out of a job, with young people the worst affected. ...
Corbyn needs to find £10bn a year to make good on tuition fee pledge | Phillip Inman image
....It is unlikely that it could be paid for by raising corporation tax to 26%, since much of that revenue is already earmarked, including £8bn for schools, educational maintenance grants and free school meals for all primary school pupils. That increase to 26%, according to the Institute for Fiscal Studies, could bring in £19bn, but that total is likely to decline as firms relocate to lower tax locations and invest less – meaning lower growth. ...
Labour corporation tax hike could help schools but dent economy, says IFS image
. Labour’s plan to fund higher school spending through increases in corporation tax could boost educational performance but would risk damaging the economy’s long-term growth prospects, the Institute for Fiscal Studies has said. ...
Impact of UK foreign aid diluted by pursuing national interest, says IFS image
. Poverty reduction in the world’s poorest countries risks being diluted by the government’s increasing tendency to devote a bigger slice of Britain’s aid budget to pursuing the national interest, the Institute for Fiscal Studies has warned. ...
Falling real pay shows the British economy is still struggling | Larry Elliott image
.... Here, the record of the past decade looks better, although only marginally. Real median income is currently 5% higher than it was in 2007-08, according to the Institute for Fiscal Studies but it would have risen by 15% had the pre-recession trend continued. ...
UK needs £15bn in cuts or tax rises to clear deficit by 2022, says IFS image
....It will take an extra £15bn of spending cuts or tax rises to eliminate the budget deficit by the time of the 2022 election, a leading thinktank has said as it laid bare the damaging legacy of the financial crisison UK living standards and public finances. The Institute for Fiscal Studies said that despite “two parliaments of pain”, the Conservative-led austerity drive had made little difference to public spending when measured as a share of national income and compared with pre-downturn levels. ...
Theresa May promised to tackle greedy bosses – instead she’s helping them | Polly Toynbee image
....Nothing in the government’s election campaign so far suggests remedies for the great social dysfunctions May listed in her first speech. Top pay in itself is only an emblem of a deeper malaise, with the Institute for Fiscal Studies warning that May’s regime is set to cause inequality to rise as steeply as it did under Margaret Thatcher, with wages stagnant or falling, benefits cut and public sector pay dropping by 12%. ...
General election 2017: Tax lock is bad policy, says IFS image
Source : BBC [Read Article] Monday 1st of May 2017 12:20:26 PM
....But the prime minister declined to back a Tory pledge from 2015 that also ruled out rises in the other two taxes. The Institute for Fiscal Studies said the 2015 move had been a "bad policy". ...
UK GDP growth slower than expected as inflation bites image
Source : Guardian [Read Article] Friday 28th of April 2017 02:33:56 PM
....A leading thinktank underscored the pressures on household budgets as it noted the weakness in wage growth started long before the Brexit vote. After adjusting for inflation, employees’ average earnings were still substantially below pre-recession levels, the Institute for Fiscal Studies said in a new analysis. ...
Poor working families face big losses from benefit cuts, says IFS image
Source : Guardian [Read Article] Thursday 27th of April 2017 04:57:27 PM
. Low-income working families face significant reductions in income as a result of planned cuts to benefits, according to the Institute for Fiscal Studies (IFS). ...
Pensions triple lock: what you need to know image
Source : Guardian [Read Article] Thursday 27th of April 2017 01:39:07 PM
....The last few years – in which earnings growth has been extremely weak – have seen triple lock indexation boost the value of the state pension relative to both average earnings and prices. The Institute for Fiscal Studies (IFS) said in its recent assessment: “Between April 2010 and April 2016 the value of the state pension has been increased by 22. ...
Theresa May weighing up cheaper 'double lock' for pensions image
Source : Guardian [Read Article] Wednesday 26th of April 2017 09:00:47 PM
....Many economists also have their doubts about whether the policy will continue to be affordable in the long term. Paul Johnson, the director of the Institute for Fiscal Studies, which scrutinises all the party’s manifestos, said he would be glad to see the policy abandoned because of its arbitrary nature. ...
A hasty election before Britain sees the hard truth of Brexit image
Source : Guardian [Read Article] Sunday 23rd of April 2017 05:59:05 AM
.... Given that exports are 20% of our gross domestic product, “the net effect would be to reduce UK GDP by around 4%”. At a time when Paul Johnson, the director of the Institute for Fiscal Studies, is warning that the pressures on the public finances are enormous, and posing serious implications for the nation’s taxable capacity, the implications of a suicidal abandonment of our main export market are immense. ...
With a whiff of sulphur, George Osborne was gone – but for how long? | Polly Toynbee image
.... His raising of the minimum wage barely touches what he took away in tax credits within universal credit, in benefit freezes, and in ever rising bars to qualify for anything. By 2020 those cuts will have cast 50% more children into poverty, the steepest rise for a generation, says the Institute for Fiscal Studies. ...
Reality Check image
Source : BBC [Read Article] Wednesday 19th of April 2017 01:31:06 PM
....It also pointed out that the combined effect of tax and benefit changes was hitting the poorest people the hardest, but Mr McDonnell was not talking about benefits. This chart from the Institute for Fiscal Studies shows that about 90% of income tax is paid by the 50% of taxpayers with the highest incomes, while more than a quarter is paid by the richest 1%. ...
£400BILLION: That’s the amount grandparents are going to pass on to the younger generation image
...." . A recent report from the Institute for Fiscal Studies (IFS) suggested the amount of wealth that younger generations will end up with is more likely to hinge on how well off their parents are than was the case for older generations. ...
Older people due to pass on property ‘wealth mountain’ worth £400bn image
.... Nearly two-thirds (62%) are concerned about the financial position of the younger generation who have not generally seen their wealth increase, due to surging house prices, in the same way that some people in the older generations have. A recent report from the Institute for Fiscal Studies (IFS) suggested the amount of wealth that younger generations will end up with is more likely to hinge on how well off their parents are than was the case for older generations. ...
The Guardian view on apprenticeships: an invitation for employers to cheat | Editorial image
.... That means many students who might have benefited from access to technical and vocational courses at 14 have to wait until 16, when they may have entirely lost their enthusiasm for learning. Ministers will be familiar with the critical analysis that has come from bodies such as the Institute for Fiscal Studies and the Institute for Public Policy Research. ...
Cash in the pocket image
Source : BBC [Read Article] Friday 31st of March 2017 09:16:50 PM
....The same will apply to people claiming universal credit. The Institute for Fiscal Studies (IFS) calculates that as a result of this change alone, 600,000 three-child families will on average be £2,500 worse off than under the old system. ...
Reality Check image
Source : BBC [Read Article] Tuesday 21st of March 2017 12:18:54 AM
....The new headline rate is CPIH, a measure of how much prices are rising that, unlike CPI, takes into account owner-occupiers' housing costs and council tax. The switch from CPI to CPIH is a result of a review of inflation measures by Paul Johnson from the Institute for Fiscal Studies. ...
A ‘jobs miracle’ that leaves millions worse off | Observer editorial image
.... Since the financial crisis, the growth in jobs has come at the price of little growth in average earnings, with many workers finding themselves materially worse off. The Institute for Fiscal Studies expects average real earnings will be no higher in 2022 than they were in 2007; a dire situation its director has described as “completely unprecedented”. ...
Rising prices set to push inflation over 2% Bank of England target image
Source : Guardian [Read Article] Saturday 18th of March 2017 03:59:43 PM
....That pattern prompted a leading thinktank to warn recently that workers are on course to suffer an unprecedented 15 years of lost earnings growth. The Institute for Fiscal Studies (IFS) said average earnings would be no higher in 2022 than they were in 2007, and predicted that welfare cuts would compound the financial pain for many. ...
Child poverty in UK at highest level since 2010, official figures show image
Source : Guardian [Read Article] Thursday 16th of March 2017 02:45:20 PM
....”. The Institute for Fiscal Studies said income for working-age adults was no higher than eight years ago. ...
Household incomes crept up last year, DWP figures show image
Source : BBC [Read Article] Thursday 16th of March 2017 11:20:14 AM
....This stood at £413 a week after taking housing costs into account, the DWP figures show. Agnes Norris Keiller, a research economist at the Institute for Fiscal Studies (IFS), said: "Growth in household incomes in 2015-16 was modest but widespread, continuing the pattern seen in recent years. ...
Hammond's NICs U-turn is a political disaster for the government | Larry Elliott image
....These were valid points, just as they were a week ago. Hammond’s proposal was supported by the Resolution Foundation, which is run by Torsten Bell, a former aide to Ed Miliband, and by the Institute for Fiscal Studies, the country’s foremost authority when it comes to anything to do with the public finances. ...
Jobless rate down but wage growth slows image
Source : BBC [Read Article] Wednesday 15th of March 2017 09:32:42 AM
....Ahmed: May's income headache. Following last week's Budget, Paul Johnson, director of the Institute for Fiscal Studies (IFS) warned that wages were unlikely to be higher in the next five years. ...
The Scottish economy has strengths – but could it make a success of independence? | Larry Elliott image
.... To make the sums add up, those advocating independence assumed an oil price of $100 a barrel, double today’s level. According to estimates made last year by the Institute for Fiscal Studies, Scotland will have a budget deficit of more than 9% of GDP this year, more than three times as big as that for the UK. ...
We will all need a stiff drink to swallow Hammond’s austerity image
Source : Guardian [Read Article] Sunday 12th of March 2017 07:00:17 AM
.... And the Treasury is placing great emphasis on the importance of “productivity” – ie the supply side of the economy – to provide the future growth on which higher living standards and tax revenues ultimately depend. For the uncomfortable truth, underlined by the Office for Budgetary Responsibility, the Institute for Fiscal Studies and the Resolution Foundation last week, is that, after a splurge of consumer spending largely financed by borrowing, the outlook for real incomes is pretty bleak – indeed, there are already signs of a slowdown, and the OECD is forecasting economic growth this year of a mere 1. ...
Standup chancellor shuns sit-down with Tyrie image
Source : Guardian [Read Article] Sunday 12th of March 2017 07:00:17 AM
.... Having already broken convention by abolishing future spring budgets and then using his final one to deliver a few gags (“they don’t call it the last Labour government for nothing”), Philip Hammond will be spared from explaining himself to Andrew Tyrie and co this week. Instead, the committee will play host to Robert Chote, chairman of the Office for Budget Responsibility on Monday, plus a couple of his sidekicks, before Tuesday brings an appearance by Paul Johnson, the boss of the Institute for Fiscal Studies thinktank. ...
Budget 2017: Self-employed 'tax raid' a 'rookie error' image
Source : BBC [Read Article] Saturday 11th of March 2017 09:22:56 AM
.... . The Institute for Fiscal Studies think tank has also backed the proposal, arguing the current system had needed reform. ...
May defends 'fair' National Insurance rise amid criticism image
Source : BBC [Read Article] Thursday 9th of March 2017 08:28:31 PM
....The change was supported by some economic commentators. The Resolution Foundation think tank called it "welcome and progressive", while the Institute for Fiscal Studies suggested further rises were needed. ...
The Guardian view on trust in politics: pledges and conventions matter | Editorial image
....There is nothing illicit about this arrangement, but there is something distasteful about the architect of many people’s hardship cashing in when there is still so much pain yet to come. As the Institute for Fiscal Studies noted yesterday in its evaluation of the budget, cuts to employment support allowance and tax credits that take effect this April will be felt more keenly and by more people than the rise in national insurance contributions (NICS) for some self-employed workers – including, as it happens, Mr Osborne – that has become the object of a Tory rebellion. ...
The UK economy breaks more records – for all the wrong reasons image
Source : Guardian [Read Article] Thursday 9th of March 2017 06:40:24 PM
....The gist of the post-budget analysis from two of Britain’s leading thinktanks was simple: the economy continues to break records – mostly for the wrong reasons. Neither the Institute for Fiscal Studies nor the Resolution Foundation could get especially worked up about the political controversy of the moment: Philip Hammond’s decision to raise national insurance contributions for the self-employed. ...
Hammond went where Osborne feared to tread with tax on self-employed image
Source : Guardian [Read Article] Thursday 9th of March 2017 04:41:03 PM
.... It raises a bit of money – £645m a year by the end of the parliament – and it irons out one of the many historic anomalies in taxation. That view of the world was echoed by Paul Johnson, director of the Institute for Fiscal Studies, who described it as a “small change making a small step towards correcting a big problem with the current tax system”. ...
Budget tax rise image
Source : BBC [Read Article] Thursday 9th of March 2017 01:40:23 PM
.... By April 2019, a self-employed worker will pay 11% on profits between £8,060 and £45,000, and 2% on profits over £45,000. The Institute for Fiscal Studies says that, overall, any self-employed person with profits of less than about £15,570 will be better off. ...
No pay rise for 15 years, IFS warns UK workers image
Source : Guardian [Read Article] Thursday 9th of March 2017 08:57:23 AM
....Workers in Britain are on course to suffer an unprecedented 15 years of lost earnings growth and have been warned to prepare for a third successive parliament of austerity by a leading thinktank. Analysing Philip Hammond’s spring budget, the Institute for Fiscal Studies (IFS) said that after suffering a lost decade of earnings growth, households were now about to be hit by big welfare cuts. ...
Budget: Does NI rate rise break a pledge? image
Source : BBC [Read Article] Wednesday 8th of March 2017 03:04:52 PM
....The government did pass an act of Parliament in 2015, called the National Insurance (Rate Ceilings) Act, which prevented it from raising National Insurance rates, although that will not be breached because it referred to Class 1 National Insurance only, which is paid by employees, not by the self-employed. The Institute for Fiscal Studies argued before the Budget that the fact more tax was paid on the earnings of employees than those of the self-employed was not justified. ...
Philip Hammond’s budget – our writers give their views | Polly Toynbee, Zoe Williams, Frances Ryan, Faiza Shaheen and Kate Maltby image
.... Remember, £12bn of working-age “welfare” cuts were already set in motion last year and are coming this April – from the “two-child limit” on child tax credits and universal credit squeezes to out-of-work sickness benefits. These are measures the Institute for Fiscal Studies forecasts will push 600,000 children into absolute poverty, and charities warn will see young people on the street and disabled people having to skip meals. ...
Reality Check image
Source : BBC [Read Article] Tuesday 7th of March 2017 01:31:56 AM
.... . The Institute for Fiscal Studies said in its Green Budget that tax is rising as a share of national income and by 2019-20 is due to reach its highest level since 1986-87. ...
Budget 2017: Hammond to tell us the Brexit vote could have been worse image
.... Those projections will give a far better picture of how policy decisions and the economic backdrop are very likely to affect people’s day-to-day lives than the deficit projections and GDP estimates. The picture will be completed on Thursday, when the Institute for Fiscal Studies (IFS) conducts its traditional post-budget number crunching to spell out what it all means for different income groups. ...
Budget 2017: No 'spending sprees', Hammond warns image
Source : BBC [Read Article] Sunday 5th of March 2017 02:20:28 AM
....Wednesday's Budget takes place after the Bank of England revised up its growth forecast for this year. Paul Johnson, director of the Institute for Fiscal Studies think tank, predicted the Office for Budget Responsibility would also revise its 2017 forecast upwards. ...
London loses out in business rates revamp image
Source : BBC [Read Article] Saturday 4th of March 2017 12:07:28 AM
. The revaluation of business rates next month will see London paying an extra £800m a year to support services in other parts of England, the Institute for Fiscal Studies said. ...
IFS: Growth in UK living standards worst in 60 years image
Source : Guardian [Read Article] Thursday 2nd of March 2017 07:01:10 AM
....Britain is in the midst of the weakest growth in living standards in at least 60 years, with low income families faring the worst, a leading thinktank has warned. Weak earnings growth, together with changes to taxes and benefits, will lead to a rise in inequality by 2021-22, according to the Institute for Fiscal Studies (IFS). ...
'Long shadow' of financial crisis hits incomes image
Source : BBC [Read Article] Thursday 2nd of March 2017 12:18:25 AM
....Typical household incomes in the UK will not grow for the next two years due to the "long shadow" of the financial crisis, a report suggests. In five years' time, median income will be 4% higher than it is now, the Institute for Fiscal Studies predicts. ...
Universal credit cuts hit families with children hardest, study finds image
Source : Guardian [Read Article] Wednesday 1st of March 2017 10:00:46 AM
....Currently just 450,000 people are on universal credit, which is not expected to be fully operational across the country until 2022. At that point, according to estimates by the Institute for Fiscal Studies, 2. ...
Tory £1bn inheritance tax cut 'will worsen north-south divide' image
Source : Guardian [Read Article] Tuesday 28th of February 2017 07:20:48 PM
....”. Carl Emmerson, the deputy director of the Institute for Fiscal Studies, said the policy, under which the threshold will reach its final level in 2020, would benefit the wealthy. ...
State pension age 'could rise above lifespan' in poorer areas, say MPs image
....In November the committee said the policy should be scrapped. The committee commissioned the Institute for Fiscal Studies to estimate the extra state pension age increases that would be needed to maintain expenditure at about 6% of GDP (Gross Domestic Product). ...
UK tax burden will soar to highest level for 30 years, warns IFS image
Source : Guardian [Read Article] Tuesday 7th of February 2017 10:00:11 AM
....The government is on course to impose steep cuts in public spending and increase taxes by the end of the decade to their highest level in 30 years to combat the UK’s persistent budget deficit. But slower economic growth after the Brexit vote and lower than expected tax receipts will still leave the UK with one of the largest shortfalls in public spending in the developed world, according to the Institute for Fiscal Studies. ...
Jeanette Winterson to close London shop due to business rates surge image
Source : Guardian [Read Article] Monday 23rd of January 2017 07:01:42 PM
....Most high street retailers pay more in business rates than they do in corporation tax, leading to criticism that the levy hands an unfair advantage to online-only retailers such as Amazon because they control less property. Last year, a report by Colliers estate agency said the 2017 rating revaluation would produce the largest changes in rateable value for a generation, and the Institute for Fiscal Studies said the revaluation showed the government’s reliance on London. ...
It’s time to rewrite the rules of economics to end the growing chasm of inequality  | Liam Byrne image
....In the US, new research shows that in the rust-belt states an incredible 40% of those born in 1980 are worse off than their parents. Here in the UK the gender pay gap still looms large – and as the Institute for Fiscal Studies revealed, there has been a four-fold increase in the number of men in low-paid, part-time work over the last 20 years. ...
Eight men own more than 3.6 billion people do: our economics is broken | Mark Goldring image
....Meanwhile, those without economic power feel the pain: the producer in a developing country, the low-paid UK worker, the woman juggling work and childcare, are squeezed until their pips squeak, all in the name of returning as much money as possible to predominantly wealthy shareholders. Last autumn, the Institute for Fiscal Studies warned that their fellow Britons were in the midst of decade of lost wage growth, the worst for 70 years. ...
Bleak trend of low, part-time wages in UK is revealed image
Source : Guardian [Read Article] Friday 13th of January 2017 06:01:09 AM
....Men on low pay are four times more likely to be working part-time than in the 1990s, according to a survey that illustrates the trend for low hours and wages to go together. The Institute for Fiscal Studies said 20 years ago only one in 20 men aged 25 to 55 worked part-time with low hourly wages. ...
Earnings inequality among men soars image
Source : BBC [Read Article] Friday 13th of January 2017 12:02:29 AM
.... . New research by the Institute for Fiscal Studies has found that one in five low-paid men aged 25 to 55 now work part-time. ...
Inheritance tax is toxic. We need new ways to tackle inequality | Polly Toynbee image
....To those that hath, even more shall be given. That depressing biblical message is confirmed by the Institute for Fiscal Studies in today’s report on inheritance. ...
Young to inherit more but in less equal amounts, says IFS image
Source : BBC [Read Article] Thursday 5th of January 2017 11:05:09 AM
....Younger generations will inherit much more money than their predecessors - but the amounts they get will be very unequal, according to new research. The Institute for Fiscal Studies (IFS) says the wealth of the older generation has grown by 45% over just ten years. ...
Richest young people in UK also likely to inherit most wealth, study finds image
Source : Guardian [Read Article] Thursday 5th of January 2017 12:01:34 AM
....Britain’s wealth gap will be passed down the generations as well-off older people bequeath property to their already thriving offspring, according to new research from one of the UK’s leading thinktanks. The Institute for Fiscal Studies (IFS) found that today’s young people were likely to inherit more wealth than their predecessors but the benefits would be skewed to those who were already well off. ...

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