IFS

Excessive furlough extension could ‘choke off’ growth, IFS says

by

Tax rises look ‘more likely than ever’ in future years as the Government’s spending splurge amid the pandemic rolls on, the Institute for Fiscal Studies has warned. The IFS said Chancellor Rishi Sunak is likely to need to raise an additional £60billion via taxes over the coming years.  But, with Britain’s economy facing an ‘extraordinarily’ … Read more

IFS: Over 1m self-employed missing out on government’s Covid support

by

More than a million self-employed workers are missing out on financial support from the Government because they have another source of income leaving many facing ‘serious hardship’, warns the IFS Government set up Self-Employment Income Support Scheme during pandemic It provides payments once a quarter worth 80 per cent of pre-pandemic profits But Institute for … Read more

IFS warns UK is in ‘wholly uncharted territory’ after Covid crisis

by

Rishi Sunak will need to find £40BILLION a year in tax rises and spending cuts by the middle of the decade if he wants to balance the books in the wake of the coronavirus crisis, says IFS as it warns UK is in ‘uncharted territory’ Institute for Fiscal Studies said the UK economy is in … Read more

Universities need £3BILLION: IFS warns of soaring costs of giving cash to top institutions

by

Top universities have called on the Government for additional funds to take on more students and for the cap on the number of pupils studying medicine to be lifted amid fears ministers face a £3billion bailout for lower-tier institutions.   Thousands of students are scrambling to get places at their first choice university after ministers screeching … Read more

Exempting foreign NHS workers would only cost £90m says IFS

by

Boris Johnson’s reasoning for refusing to exempt foreign NHS workers from the healthcare surcharge began unravelling tonight when a top economist slapped down his suggestion it would cost hundreds of millions.  The Prime Minister today hailed the £400 annual fee for migrants as a £900million revenue raiser, as he swatted away calls for the government … Read more

IFS: Rishi Sunak’s Budget ‘nothing like as generous as it appears’

by

Rishi Sunak’s Budget plans are ‘nothing like as generous as they appear’ and spending on most public services will be lower in 2025 than in 2010, according to a respected think tank. Paul Johnson, the director of the Institute for Fiscal Studies, said Mr Sunak’s investment proposals are ‘genuinely very big’ – but the cash … Read more