The Institute for Fiscal Studies
@theifs.bsky.social
Official account for Britain’s leading independent economic research institute. https://ifs.org.uk/
“With a £6 billion shortfall in funding currently projected for 2028–29, tough choices will be needed to reform the system, and/or to work out how to fill the funding gap.”
📗 Read the briefing, funded by @nuffieldfoundation.org, here: ifs.org.uk/articles/har...
📗 Read the briefing, funded by @nuffieldfoundation.org, here: ifs.org.uk/articles/har...
December 2, 2025 at 10:56 AM
“With a £6 billion shortfall in funding currently projected for 2028–29, tough choices will be needed to reform the system, and/or to work out how to fill the funding gap.”
📗 Read the briefing, funded by @nuffieldfoundation.org, here: ifs.org.uk/articles/har...
📗 Read the briefing, funded by @nuffieldfoundation.org, here: ifs.org.uk/articles/har...
NEW: The hardest questions for SEND are still to be answered.
@ckfarquharson.bsky.social, Kate Ogden, David Phillips, @lukesibieta.bsky.social and Darcey Snape’s briefing explains how the #Budget2025 will affect SEND spending and the options for councils' SEND-related deficits ⬇️
@ckfarquharson.bsky.social, Kate Ogden, David Phillips, @lukesibieta.bsky.social and Darcey Snape’s briefing explains how the #Budget2025 will affect SEND spending and the options for councils' SEND-related deficits ⬇️
December 2, 2025 at 10:56 AM
NEW: The hardest questions for SEND are still to be answered.
@ckfarquharson.bsky.social, Kate Ogden, David Phillips, @lukesibieta.bsky.social and Darcey Snape’s briefing explains how the #Budget2025 will affect SEND spending and the options for councils' SEND-related deficits ⬇️
@ckfarquharson.bsky.social, Kate Ogden, David Phillips, @lukesibieta.bsky.social and Darcey Snape’s briefing explains how the #Budget2025 will affect SEND spending and the options for councils' SEND-related deficits ⬇️
“Faced with cognitive decline and complex finances, many are likely to find it difficult to manage their finances. The good news is these effects tend to emerge slowly, [giving] a window to put plans in place.“
📗 Read the report here: ifs.org.uk/publications...
📗 Read the report here: ifs.org.uk/publications...
December 2, 2025 at 8:15 AM
“Faced with cognitive decline and complex finances, many are likely to find it difficult to manage their finances. The good news is these effects tend to emerge slowly, [giving] a window to put plans in place.“
📗 Read the report here: ifs.org.uk/publications...
📗 Read the report here: ifs.org.uk/publications...
NEW: Older people who experience cognitive decline have around £30,000 lower financial wealth than those who do not around eight to ten years after first recording low cognitive function.
Read @heidikarj.bsky.social's new report, funded by the IFS Retirement Saving Consortium ⬇️
Read @heidikarj.bsky.social's new report, funded by the IFS Retirement Saving Consortium ⬇️
December 2, 2025 at 8:15 AM
NEW: Older people who experience cognitive decline have around £30,000 lower financial wealth than those who do not around eight to ten years after first recording low cognitive function.
Read @heidikarj.bsky.social's new report, funded by the IFS Retirement Saving Consortium ⬇️
Read @heidikarj.bsky.social's new report, funded by the IFS Retirement Saving Consortium ⬇️
'The OBR has made Rachel Reeves very lucky in saying we think it [higher tax receipts] are going to come to the rescue in coming years'
@helenmiller.bsky.social explains how tax revenues made Rachel Reeves' job easier this Budget in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social explains how tax revenues made Rachel Reeves' job easier this Budget in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
November 30, 2025 at 10:01 AM
'The OBR has made Rachel Reeves very lucky in saying we think it [higher tax receipts] are going to come to the rescue in coming years'
@helenmiller.bsky.social explains how tax revenues made Rachel Reeves' job easier this Budget in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social explains how tax revenues made Rachel Reeves' job easier this Budget in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
'I don't think we can afford to have budgets that look like this in some sense. The growth problem is so bad.'
@helenmiller.bsky.social, @benzaranko.bsky.social & @ckfarquharson.bsky.social discuss the Budget and its implications for growth in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social, @benzaranko.bsky.social & @ckfarquharson.bsky.social discuss the Budget and its implications for growth in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
November 29, 2025 at 11:01 AM
'I don't think we can afford to have budgets that look like this in some sense. The growth problem is so bad.'
@helenmiller.bsky.social, @benzaranko.bsky.social & @ckfarquharson.bsky.social discuss the Budget and its implications for growth in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social, @benzaranko.bsky.social & @ckfarquharson.bsky.social discuss the Budget and its implications for growth in our podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
📊 #IFSSatStat: Next year households will see income gains from Budget reforms including a fuel duty cut relative to existing plans and removing the two-child limit.
The hit from big tax rises is set to kick in later, particularly for middle and higher-income households.
The hit from big tax rises is set to kick in later, particularly for middle and higher-income households.
November 29, 2025 at 9:15 AM
📊 #IFSSatStat: Next year households will see income gains from Budget reforms including a fuel duty cut relative to existing plans and removing the two-child limit.
The hit from big tax rises is set to kick in later, particularly for middle and higher-income households.
The hit from big tax rises is set to kick in later, particularly for middle and higher-income households.
'Real household disposable income is going to grow about 0.4% annually this parliament. That is the second worst growth in living standards we've had since the late 1970s.'
@ckfarquharson.bsky.social discusses living standards in our #Budget2025 podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@ckfarquharson.bsky.social discusses living standards in our #Budget2025 podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
November 28, 2025 at 3:01 PM
'Real household disposable income is going to grow about 0.4% annually this parliament. That is the second worst growth in living standards we've had since the late 1970s.'
@ckfarquharson.bsky.social discusses living standards in our #Budget2025 podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@ckfarquharson.bsky.social discusses living standards in our #Budget2025 podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
'The manifesto said no increase in National Insurance. This is an increase in National Insurance.'
@helenmiller.bsky.social and @benzaranko.bsky.social discuss whether the Budget's tax changes are a breach of Labour's manifesto pledge in our new podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social and @benzaranko.bsky.social discuss whether the Budget's tax changes are a breach of Labour's manifesto pledge in our new podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
November 28, 2025 at 1:15 PM
'The manifesto said no increase in National Insurance. This is an increase in National Insurance.'
@helenmiller.bsky.social and @benzaranko.bsky.social discuss whether the Budget's tax changes are a breach of Labour's manifesto pledge in our new podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social and @benzaranko.bsky.social discuss whether the Budget's tax changes are a breach of Labour's manifesto pledge in our new podcast.
🎧 Listen here: ifs.org.uk/articles/aut...
NEW PODCAST: The Autumn Budget 2025 explained
@helenmiller.bsky.social, @benzaranko.bsky.social and @ckfarquharson.bsky.social break down the major decisions in a packed Autumn Budget and what they mean for the UK in our new IFS Zooms In episode.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social, @benzaranko.bsky.social and @ckfarquharson.bsky.social break down the major decisions in a packed Autumn Budget and what they mean for the UK in our new IFS Zooms In episode.
🎧 Listen here: ifs.org.uk/articles/aut...
November 27, 2025 at 4:19 PM
NEW PODCAST: The Autumn Budget 2025 explained
@helenmiller.bsky.social, @benzaranko.bsky.social and @ckfarquharson.bsky.social break down the major decisions in a packed Autumn Budget and what they mean for the UK in our new IFS Zooms In episode.
🎧 Listen here: ifs.org.uk/articles/aut...
@helenmiller.bsky.social, @benzaranko.bsky.social and @ckfarquharson.bsky.social break down the major decisions in a packed Autumn Budget and what they mean for the UK in our new IFS Zooms In episode.
🎧 Listen here: ifs.org.uk/articles/aut...
NEW: There is a due to be a £6 billion gap between SEND funding and spending in 2028-29, on the basis of OBR forecasts.
📗@lukesibieta runs through the three main options for filling this gap: ifs.org.uk/articles/aut...
📗@lukesibieta runs through the three main options for filling this gap: ifs.org.uk/articles/aut...
November 27, 2025 at 1:27 PM
NEW: There is a due to be a £6 billion gap between SEND funding and spending in 2028-29, on the basis of OBR forecasts.
📗@lukesibieta runs through the three main options for filling this gap: ifs.org.uk/articles/aut...
📗@lukesibieta runs through the three main options for filling this gap: ifs.org.uk/articles/aut...
Real household disposable income is set to grow by just 0.4% per year over this parliament, driven by low productivity growth and tax rises.
November 27, 2025 at 11:27 AM
Real household disposable income is set to grow by just 0.4% per year over this parliament, driven by low productivity growth and tax rises.
Next year households will see gains from additional energy bill support and the effects of removing the two-child limit.
But by 2029–30, the big tax rises will have kicked in, particularly hitting middle and higher-income households.
But by 2029–30, the big tax rises will have kicked in, particularly hitting middle and higher-income households.
November 27, 2025 at 11:25 AM
Next year households will see gains from additional energy bill support and the effects of removing the two-child limit.
But by 2029–30, the big tax rises will have kicked in, particularly hitting middle and higher-income households.
But by 2029–30, the big tax rises will have kicked in, particularly hitting middle and higher-income households.
The decision to scrap the two-child limit means increasing benefits for low-income families with three or more children, which the government estimates will reduce relative child poverty by 450,000.
November 27, 2025 at 11:23 AM
The decision to scrap the two-child limit means increasing benefits for low-income families with three or more children, which the government estimates will reduce relative child poverty by 450,000.
By 2029–30, it's expected that a quarter of employees will pay higher or additional rate income tax.
November 27, 2025 at 11:21 AM
By 2029–30, it's expected that a quarter of employees will pay higher or additional rate income tax.
The extra tax you will see as a result of the personal tax threshold freezes will depend on where you are in the earnings distribution.
Tom Waters presents on changes to personal taxes and benefits in yesterday's #Budget2025.
Watch live here: www.youtube.com/watch?v=4WQA...
Tom Waters presents on changes to personal taxes and benefits in yesterday's #Budget2025.
Watch live here: www.youtube.com/watch?v=4WQA...
November 27, 2025 at 11:21 AM
The extra tax you will see as a result of the personal tax threshold freezes will depend on where you are in the earnings distribution.
Tom Waters presents on changes to personal taxes and benefits in yesterday's #Budget2025.
Watch live here: www.youtube.com/watch?v=4WQA...
Tom Waters presents on changes to personal taxes and benefits in yesterday's #Budget2025.
Watch live here: www.youtube.com/watch?v=4WQA...
There are some steps towards reform in the #Budget2025's tax changes.
But many fundamental issues remain.
But many fundamental issues remain.
November 27, 2025 at 11:19 AM
There are some steps towards reform in the #Budget2025's tax changes.
But many fundamental issues remain.
But many fundamental issues remain.
Yesterday's #Budget2025 announcements provide significant support for energy bills until 2028–29, with much less support afterwards.
November 27, 2025 at 11:16 AM
Yesterday's #Budget2025 announcements provide significant support for energy bills until 2028–29, with much less support afterwards.
While a welcome first step to taxing electric vehicles, a flat tax fails to address the very concentrated costs of congestion.
November 27, 2025 at 11:13 AM
While a welcome first step to taxing electric vehicles, a flat tax fails to address the very concentrated costs of congestion.
The "mansion tax" is one of the least damaging ways to tax those with high wealth.
But it fails to seriously address the current absurd council tax system based on 1991 property values.
But it fails to seriously address the current absurd council tax system based on 1991 property values.
November 27, 2025 at 11:09 AM
The "mansion tax" is one of the least damaging ways to tax those with high wealth.
But it fails to seriously address the current absurd council tax system based on 1991 property values.
But it fails to seriously address the current absurd council tax system based on 1991 property values.
The changes announced yesterday to income tax rates for interest, dividend and poverty income are set to raise £2.6 billion.
These align tax on capital incomes more closely with labour incomes, but because of a lack of tax reform, increase distortions to saving and investment.
These align tax on capital incomes more closely with labour incomes, but because of a lack of tax reform, increase distortions to saving and investment.
November 27, 2025 at 11:07 AM
The changes announced yesterday to income tax rates for interest, dividend and poverty income are set to raise £2.6 billion.
These align tax on capital incomes more closely with labour incomes, but because of a lack of tax reform, increase distortions to saving and investment.
These align tax on capital incomes more closely with labour incomes, but because of a lack of tax reform, increase distortions to saving and investment.
The changes to salary sacrifice can be hard to get your head around: here's our summary.
November 27, 2025 at 11:03 AM
The changes to salary sacrifice can be hard to get your head around: here's our summary.
The higher 'headroom' in this Budget should reduce sensitivity of policy to forecast changes in the future.
November 27, 2025 at 11:00 AM
The higher 'headroom' in this Budget should reduce sensitivity of policy to forecast changes in the future.
The #Budget2025 summarised in one chart: we now expect higher borrowing in every year before 2029–30, but then headroom is more than doubled in 2029–30.
November 27, 2025 at 10:58 AM
The #Budget2025 summarised in one chart: we now expect higher borrowing in every year before 2029–30, but then headroom is more than doubled in 2029–30.
Taken together, borrowing is now expected to be higher in each of the next three years, but lower in 2029–30 (the year the fiscal rule binds).
This is mainly the result of new tax rises kicking in in 2029–30.
This is mainly the result of new tax rises kicking in in 2029–30.
November 27, 2025 at 10:57 AM
Taken together, borrowing is now expected to be higher in each of the next three years, but lower in 2029–30 (the year the fiscal rule binds).
This is mainly the result of new tax rises kicking in in 2029–30.
This is mainly the result of new tax rises kicking in in 2029–30.