Rachel Reeves set to reveal £20bn funding shortfall – but is it a surprise? July 26, 2024 Chancellor Rachel Reeves is expected to announce a roughly £20bn hole in the public finances on Monday when she reveals the results of a spending audit undertaken by Treasury officials over the past few weeks.
Make no mistake, tax rises are on the way July 23, 2024 Evidence is piling up that Chancellor Rachel Reeves will almost certainly be forced to raise taxes this autumn, Chris Dorrell writes
Public sector pay rises could cost up to £10bn, economist warns July 20, 2024 Independent pay review bodies are reported to be preparing to recommend such an increase for teachers and around 1.3m NHS staff, according to The Times.
IFS: Labour and Conservative manifestos ‘singularly fail’ to address fiscal challenges June 24, 2024 The IFS called attention - yet again - to the fiscal 'trilemma' which will face the next government.
Labour faces £33bn blackhole if it maintains state spending, research suggests June 4, 2024 Maintaining per person funding in unprotected departments would leave the next government facing a £33bn blackhole, research suggests.
Inheritance tax hits new record of £7.5bn as debate over reform swirls April 23, 2024 Like many other taxes, the government has frozen the thresholds at which inheritance tax applies, meaning more estates have been pulled into its orbit as asset prices have increased.
New data: UK tax take rising faster than any other rich country April 17, 2024 Although the UK started the century with tax revenue making up a much lower proportion of national income than other advanced economies, the tax burden has rapidly climbed since the pandemic.
Safe as houses: is it time to introduce a wealth tax? March 30, 2024 Wages in the UK have flatlined since the financial crisis of 2008. Yet in that time, the country’s richest 1000 families have seen the value of their assets triple. Should we think more seriously—and progressively—about the way we tax wealth?
Public sector pay needs to increase to hold on to top talent, says think tank March 26, 2024 Research from the Institute for Fiscal Studies (IFS), shows that public sector pay at the 75th percentile - for those earning more than three-quarters of public sector workers - is now eight per cent lower in real terms than in 2007.
Spring Budget 2024: Hunt doesn’t rule out May election after £10bn tax cut March 6, 2024 Jeremy Hunt has announced the rate of National Insurance (NI) will be cut by two per cent in the Spring Budget as the government gears up for a rocky general election.