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Government under pressure from Labour and economists on cost of living squeeze

Households are set to be £2,620 worse off due to the cost of living squeeze facing the country, Labour will say on Thursday. New analysis from the party – as it launches its local election campaign – comes as the Prime Minister is under increasing ...

31 Mar 2022 at 01:25

City

Chancellor faces choice between borrowing or huge hit to households, say experts

The Chancellor faces a “huge judgment call” on whether to borrow billions more or allow households to face what could be the biggest hit since the 1970s, experts have said. The cost of living is set to soar this year, not least due to the rising ...

10 Mar 2022 at 01:25

Freezing fuel duty is a ‘political choice’ by Hunt, says IFS

Jeremy Hunt’s decision to freeze fuel duty rather than funding a cost-of-living pay rise for nurses and other public sector workers is a “political choice”, the Institute for Fiscal Studies (IFS) has said. In his initial Budget analysis, IFS ...

15 Mar 2023 at 17:29

Spending plans mean £9 billion of cuts after next year, economists warn

The Government will need to raise up to another £9 billion after next year to avoid cutting spending on unprotected departments, economists have warned. Although day-to-day spending is set to rise rapidly after Wednesday’s Budget, ...

31 Oct 2024 at 13:09

Hunt: Santa would be left with debt and fewer toys if he followed Labour’s plans

Santa would have fewer toys to give out next year and debt interest to pay if he adopted Labour’s borrowing plans, according to Jeremy Hunt. The Chancellor took aim at the Opposition by trying to explain the impact of the party’s ...

19 Dec 2023 at 12:45

Landlords call for Budget tax breaks to boost supply and control rents

Private sector landlords have called on Rachel Reeves to give them new tax breaks to help keep rents down and boost the supply of homes. In a letter to the Chancellor ahead of the Budget, representative bodies said their members ...

17 Oct 2024 at 06:59

Labour will plan for growth, not hope for growth, says Starmer

Labour will “pull the lever called ‘growth’”, Sir Keir Starmer said as he insisted he will not have to raise taxes on working people if his party wins the election. Both Labour and the Conservatives have been criticised by Paul ...

10 Jun 2024 at 15:10

A potential abolition of national insurance for workers would not come for years

Labour has repeatedly said that Prime Minister Rishi Sunak is planning a £46 billion “unfunded” tax cut, comparing that with the £45 billion of “unfunded” tax cuts which Liz Truss’s government announced. At Prime Minister’s ...

23 Apr 2024 at 12:27

IFS urges Chancellor to explain how he will pay for tax cuts as Budget nears

The Chancellor should resist announcing tax cuts at next week’s Budget unless he can show how he will pay for them, the Institute for Fiscal Studies (IFS) has said. Jeremy Hunt faces continued pressure from Conservatives ...

27 Feb 2024 at 13:58

Public sector pay rises could cost up to £10 billion, economist warns

The Government could need up to £10 billion to cover public sector pay increases if reports of a 5.5% rise prove true, an economist has warned. Independent pay review bodies are reported to be preparing to recommend ...

20 Jul 2024 at 08:23

Budget leaves big picture largely unchanged, say experts

A “smoke and mirrors” Budget has left the overall economic picture largely unchanged and a “sour” prospect for whoever wins the next election, two leading economic think tanks have said. The Institute for Fiscal ...

06 Mar 2024 at 17:44

Spring statement will lead to six months of ‘damaging speculation’, IFS warns

The Chancellor’s decisions at the spring statement will lead to six months of “damaging speculation and uncertainty over tax policy” ahead of the next budget, an influential economics think tank has warned. ...

26 Mar 2025 at 18:06

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