The Latest Breaking News from IFS

The increased cost of borrowing has left the government with an £11bn annual shortfall, according to the IFS

‘I don’t yet know if I can’, says chancellor when asked about pre-election tax giveaway talked up by PM

The Institute for Fiscal Studies says personal taxes are rising despite much-hyped Tory tax cuts

Sir Keir Starmer and shadow Chancellor Rachel Reeves are reported to be considering tax cuts in Labour’s election manifesto, possibly to income tax

When Intel struggled with its 10nm process technology a few years ago, some investors suggested that the company would be better-off spinning its chip production into an independent foundry, leaving the core of the company to focus on chip design instead. Bucking these calls, however, Intel opted to keep chipmaking…

Government’s underestimation of inflation has eroded teaching resources, according to thinktank

The global foundry industry witnessed a substantial rise in demand in the third quarter of 2023, according to TrendForce. The Top 10 foundries collectively saw their revenue soar to about $28.29 billion, marking a 7.9% increase compared to the previous quarter. Taiwan Semiconductor Manufacturing Co. (TSMC) maintained its No. 1…

National insurance cut risks Bank of England being more ‘hawkish’ in battle against inflation

Already squeezed criminal justice system, schools and local government would face painful cuts if chancellor’s sums are to add up

Thinktank says £20bn package of tax cuts would be mostly funded by deep reductions in public spending planned from 2025

Public sector cuts will be ‘more painful’ than under Cameron and Osborne, says IFS – accusing Hunt of leaving ‘mother of a headache’ for next government