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Press release
Today IFS formally launches the most comprehensive scientific analysis of inequalities yet attempted. In a review chaired by Nobel Laureate Professor Sir Angus Deaton and funded by the Nuffield Foundation, we intend not just to describe inequalities – in income, wealth, health, social mobility, ...
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2018-19 saw the lowest deficit since 2001–02, following many years of fiscal consolidation since the financial crisis.
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For the first time, IFS researchers look at the effects of universal credit on people’s incomes over the longer run as well as the short run.
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By freezing the thresholds at which child benefit is withdrawn, the personal allowance is withdrawn and the top rate of income tax applies, recent governments have, rather stealthily, increased the tax rates on high earners and the number of people facing high marginal rates of tax.
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Years of cuts and rising demands for services like social care mean that council funding in England looks increasingly unsustainable. In this context, the idea of devolving additional tax revenues and powers has been gaining traction among English councils, as they seek both more funding and ...
Press release
Chris Belfield, Jack Britton, Neil Shephard and Laura van der Erve
The current system of funding undergraduate education means that costs to government are highest for subjects where graduates earn the least, and lowest for subjects where they earn the most. This is an unintended consequence of the English loan-based system, which costs taxpayers about £9 billion ...
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The statistical analysis the government cites to justify not including deprivation in the funding formula for many key services does not stand up to full scrutiny.
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This morning the ONS released the latest public finance numbers, which provide data on public sector receipts and spending through to the end of January 2019. These are the final set of monthly data due to be published before the Chancellor’s Spring Statement which is scheduled for Wednesday ...
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The business rates retention system in England is very complex. Clarity and accuracy from the government are vital ahead of a proposed move from 50% to 75% business rates retention in April 2020.
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The Chancellor is yet to confirm how much money will be made available to departments at the 2019 Spending Review. To meet his promise to end austerity, Phillip Hammond will need to find billions of extra funding.
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In 2013, support for low-income households to pay their council tax was localised across England and funding for it was cut, while it was mandated that pensioners be protected. Hence for the first time since the poll tax, some of the lowest-income households have been required to pay local tax.
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Jack Britton and Chris Belfield
On average, attending higher education increases the age 29 earnings of men by 6% and women by 26%. If we focus on the impact of graduating from higher education, these returns rise to 8% and 28%.
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Chris Belfield, David Goll and Luke Sibieta
Children from poorer backgrounds now have more spent on their education than do those from better-off families.
Press release
Chris Belfield and Laura van der Erve
We know that higher education provides a significant boost to earnings. But when considering future family income, other aspects matter too: how many hours graduates work, who they partner and how much tax they pay.
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The rising state pension age has affected women differently according to their characteristics and awareness of the reform.
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Our annual Green Budget looks at the issues and challenges facing Chancellor Philip Hammond as he prepares for his Budget later in October.
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Big increases in house prices compared to incomes over the last two decades mean that it is increasingly difficult for young adults to get on the housing ladder, even if they do manage to save a 10% deposit.
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In new analysis, researchers at IFS have investigated which industries, regions and types of workers would be most and least affected by increased barriers to trade with the EU under different Brexit scenarios.
Press release
Chris Belfield, Luke Sibieta and Christine Farquharson
Funding for 16- to 18-year-olds and for general further education has been cut much more sharply than funding for schools, pre-school or higher education.
Press release
The government’s Fair Funding Review for councils could hit inner London boroughs like Westminster but help councils in more suburban and rural parts of England. This reflects likely changes to assessments of councils’ spending needs and revenue-raising capacity.