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The Latest Breaking News from IFS

Rishi Sunak warned of ‘serious shock’ for mortgage holders as Bank of England poised to raise interest rates

Experts warn 1.4m homeowners will see a fifth of their disposable income wiped out by soaring mortgage rates

The Independent UK

1.4m UK mortgage holders face 20% hit to disposable income from rate hikes

Expected surge in costs by 2025 likely to hit people in 30s hardest, says Institute for Fiscal Studies report

The Guardian - UK

Londoners and under-40s hardest hit by Britain’s mortgage rate mayhem (and don’t forget renters)

Inflation refuses to budge as under-40s, renters and London homeowners feel the pain

Evening Standard

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Rate rises ‘could see 1.4m mortgage holders lose over 20% of disposable income’

The Institute for Fiscal Studies said 690,000 mortgage holders are under the age of 40.

The Independent UK

Stalin commends IFS officer, NDRF soldier

The Hindu

How much extra income tax you’ll pay by 2027 due to frozen thresholds

Think tank says millions of workers will be dragged into higher rate of income tax by 2027

The Independent UK

Tory backlash as one in five will be paying higher income tax rate by 2027

One in four teachers and one in eight nurses will be paying 40p rate in biggest tax rise since 1970s, experts warn

The Independent UK

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One in five workers will be higher-rate taxpayers by 2027 – IFS

Jeremy Hunt’s freeze on allowances and thresholds will put a quarter of teachers and one-eighth of nurses in 40% income tax bracket

The Guardian - UK

One in five taxpayers will be paying higher rate of income tax by 2027, says IFS

By 2027–28, the number of people paying income tax at 40% or above will reach 7.8 million, according to a new Institute for Fiscal Studies report.

The Independent UK

Janhvi Kapoor, Gulshan Devaiah & Roshan Mathew to star in ‘Ulajh’

Junglee Pictures on Wednesday announced the casting of their upcoming film titled ‘Ulajh’, a stylised international thriller, set in the prestigious and intriguing world of Indian Foreign Services (IFS). Read further on Dynamite News:

Dynamite News

DWP benefits crackdown sees Universal Credit payments slashed by up to £1000 a month

A new report has revealed that over 100,000 households are affected by the benefits cap, with anti-poverty charities making fresh calls for it to be scrapped

Chronicle Live

The amount spent on each child's education in Wales has barely risen in more than a decade

The average £7,000 per pupil spend is only around 3% higher than in 2010, new report shows

Wales Online

Calls for ‘major review’ to avoid pensioners not having enough money to live on during retirement years

The future looks "risky at best for many workers hoping for comfortable retirement".

Daily Record

Pensions are a costly problem – and we need to talk about them

There are serious inequalities in how Britons save for retirement and in the health of those who have retired. Why?

The Guardian - UK

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The Week

Britain’s missing workers

Since the pandemic, Britain has faced a novel difficulty. Official unemployment is at its lowest point since the 1970s: at 1.3 million people, or 3.8% of working-age adults.

The Independent UK

Benefit cap introduction ‘saw claimants spend less on children and essentials’

The Institute for Fiscal Studies said only about 5% of capped households had an adult move into paid work as a direct result of the benefit cap.

The Independent UK

Future looks ‘risky at best for many workers hoping for comfortable retirement’

A fresh look at the UK’s retirement saving environment is long overdue, according to the IFS, which has launched a pensions review.

Windows Central

Your next phone could feature an Arm chip made by Intel

Intel and Arm announced a partnership that will allow designers to build low-power chips through Intel Foundry Services. The agreement is a major boost to IFS, which is aiming to surpass Samsung.

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Tom’s Hardware

Intel Foundry and Arm to Collaborate on 1.8nm Mobile SoCs

Intel and Arm to cooperate on design technology co-optimization for Intel 18A node.

Insider UK

Falling energy prices mean Scotland faces higher deficit than rest of UK

Latest forecast suggests Scotland’s deficit could be close to £1,300 higher per person

The National (Scotland)

Scotland's deficit to grow as oil and gas prices tumble

SCOTLAND’S budget deficit is forecast to grow because of falling oil and gas prices – sparking a warning from a top economist.

The Independent UK

State pension age: What has been announced and how will it affect people?

The Government plans to have a further review to reconsider plans for the state pension age to rise to 68.

Daily Mirror

Almost one in four college teachers quit within a year after massive wage cut

The large fall in salaries is making worse the staffing crisis in institutions that teach vocational courses such as childcare. College teachers pay has dropped by 18% compared to 13% for those who work in schools

The Independent UK

Seven in 10 pupils on universal credit ‘not eligible for free school meals’

Around 69 per cent of families entitled to universal credit in England are not eligible for free lunches

The Independent UK

Seven in 10 pupils on universal credit not eligible for free school meals – IFS

Families on universal credit are much more likely to be food insecure, according to researchers.

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