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How we are funded

The IFS is non-profit and non-political and receives funding from a range of sources, including the Economic and Social Research Council, UK Government departments, foundations, the European Research Council, international organisations, companies and other non-profit organisations. Funding is received either for specific research projects or via our two ESRC research centres, the Centre for the Microeconomic Analysis of Public Policy and the Centre for Microdata Methods and Practice. Research Councils award funding for academic research independently of government; funding is awarded on the basis of scientific excellence, through a process of peer-review. The IFS never accepts funding for a research project - or indeed funding of any kind - that relies on a specific result being found or that compromises our independence and neutrality. All of our own publications are available free of charge for the public to read.

IFS receives the highest rating for transparency in information made public about funding from Transparify (rated 5 stars - last rating in 2018).

The majority of IFS income goes directly to specific research projects. Below is a list showing income from individual funders for projects current in 2020. See the spreadsheet below for details of individual projects and notes about funders.

Project and Centre funding


2020 grant income (£)

3ie 4,022
Age UK 12,500
Association of British Insurers 136,085
British Academy 29,629
British Heart Foundation 19,353
Capita 24,764
Centre for Ageing Better 27,848
Citibank 223,831
Cowles Foundation 19,296
Department for Education 41,591
Department for International Development 1,207,979
Department for Work and Pensions 75,373
Department of Health and Social Care 107,484
Dubai Cares 116,970
Economic and Social Research Council 4,364,843
European Research Council 898,056
Financial Conduct Authority 3,226
Friends Provident Foundation 52,060
Institute for Fiscal Studies 26,117
International Budget Partnership Inc 2,391
Jacobs Foundation 48,208
Joseph Rowntree Foundation 74,810
Local Government Association 13,561
London School of Economics and Political Science 22,013
Low Pay Commission 57,715
Multiple Funders 49,972
National Institute for Health Research 199,250
National Institute on Ageing 14,727
Nuffield Foundation 968,130
Rockwool Foundation Research Unit 137,665
Social Mobility Commission 194,678
Social Mobility Foundation 1,491
Standard Life Foundation 90,000
STEM Inclusion Foundation 16,247
Tax Law Review Committee 2,473
The Alan Turing Institute 66,029
The Health Foundation 30,442
The Schroder Foundation 25,000
The World Bank 60,216
Trust for London 20,000
UK Research and Innovation 82,272


The Institute also generates a small contribution to its overall costs from its members (1.4%) including corporate members (1%), publication of the Institute’s quarterly journal, Fiscal Studies (0.6%), and its events programme (1.3%).

Corporate members

We are grateful to all of our members for helping to support the work that we do. Please note that none of our publications necessarily reflect the views of any of the below members.

£1,000 - £10,000

Bank of England
Chartered Institute of Taxation (CIOT)
Confederation of British Industry
Deloitte LLP
Elliot Advisors (UK) Ltd
Frontier Economics
HM Revenue and Customs
HM Treasury
Lane Clark & Peacock
National Audit Office
Pension and Lifetime Savings Association
RELX Group
Royal London
The Housing Finance Corporation
Wellington Management International Ltd
Wessex Water
Zurich Financial Services

>£100 - £1,000

House of Commons Library
Houses of the Oireachtas Service
John Swire & Sons Ltd

Annual reports and accounts