IFS | Institute for Fiscal Studies
IFS is the UK’s leading independent economics research institute. We analyse and inform economic and policy decisions with academic rigour and absolute independence.
Living standards, poverty and inequality in the UK: 2024
Jul 25, 2024 · 1. Introduction. This report explores how material living standards in the UK have evolved over the past few years. We use the latest official data, covering the years up to …
Where does the government get its money? - Institute for Fiscal …
Most UK government revenue is from tax. In 2023–24, total UK government revenue is forecast to be £1.06 trillion, or 41% of gross domestic product Gross domestic product (GDP) is a …
The UK education system preserves inequality – new report
Sep 13, 2022 · Your education has a huge effect on your life chances. As well as being likely to lead to better wages, higher levels of education are linked with better health, wealth and even …
What does the government spend money on? - Institute for Fiscal …
The government spends huge amounts of money each year on our behalf. In 2022–23, UK government spending was almost £1,200 billion, or around £17,000 per person.
Be the Chancellor - Institute for Fiscal Studies
Our interactive tool lets you be the Chancellor. Change spending plans, set tax policies and see how your choices impact borrowing and debt.
National Insurance contributions explained | IFS Taxlab
National Insurance contributions (NICs) are the UK’s second-biggest tax, expected to raise just under £170 billion in 2024–25 – around a sixth of all tax revenue.
5 Living standards, poverty and inequality in the UK: 2024 Poverty and deprivation 1. Despite the significant challenges posed first by the pandemic and then the cost-of-living crisis, poverty …
The future of the state pension - Institute for Fiscal Studies
Dec 13, 2023 · Executive summary. In this major report of the Pensions Review, led by the Institute for Fiscal Studies in partnership with the abrdn Financial Fairness Trust, we consider …
The economic consequences of the UK’s ageing population
Mar 7, 2022 · The UK is in the process of a major demographic shift as its population ages. Thirty years ago, only 1.6% of the population was aged 85 years and over, but by 2020 this had …