
In this episode, we explore what the Chancellor should be thinking about as he prepares his first Budget since the UK entered a series of lockdowns.
Listen now: Apple Podcasts | Spotify | YouTube | Soundcloud | Acast | Google Podcasts | Stitcher | RSS
The Spring 2021 Budget will be the first one since the UK entered a series of lockdowns and Great Britain left the EU's Single Market and Customs Union.
The Chancellor has immediate decisions to make over many aspects of the emergency support packages that will otherwise expire soon. In addition there is a clear need for policies to help the economy to recover and to adjust to a post-Covid, post-Brexit world in which we are moving towards Net Zero.
In this episode, Paul speaks with IFS Deputy Directors, Carl Emmerson and Helen Miller to explore the kinds of things the Chancellor should be thinking about.
Host
Participants


Director
Helen joined the IFS in 2007. She has almost two decades of experience analysing UK fiscal policy and providing trusted advice to policymakers.
Podcast details
- DOI
- 10.1920/pd.ifs.2024.0049
- Publisher
- IFS
Suggested citation
P, Johnson and C, Emmerson and H, Miller. (2021). Budget 2021: the road to recovery? [Podcast] IFS. Available at: https://ifs.org.uk/articles/budget-2021-road-recovery (accessed: 14 November 2026).
More from IFS
Understand this issue

The tax and spending choices facing Andy Burnham
Andy Burnham faces difficult choices over tax, borrowing and public spending. How much room will the new Prime Minister have to act?
16 July 2026

Is the UK economy turning a corner?
UK growth is stronger than expected, but weak productivity and squeezed household incomes raise a bigger question: what comes next?
12 November 2026

Budget 2026: what has the Chancellor changed?
What has the Budget changed? IFS economists consider the announcements, higher borrowing and the difficult choices ahead on taxes and public spending.
29 October 2026
Policy analysis

The outlook for the public finances
Higher inflation, higher government borrowing costs and pressures on public services will be the key challenges faced by the Chancellor at the Budget.
12 October 2026

IFS response to Conservative announcement about changes to inheritance tax
The biggest beneficiaries would be those with the highest wealth and the most valuable homes.
7 October 2026

The IFS Scottish Budget Report 2026–27
Our analysis of the 2026–27 Scottish Budget highlights a difficult outlook for both spending and investment in Scotland.
6 February 2026
Academic research

Tax Modelling and Distribution
This chapter provides a review of the literature on the distributional, poverty, and inequality impacts of taxation and public spending in Africa.
16 October 2026

Discretion versus algorithms: bureaucrats, tax equity and acceptability
We study how replacing bureaucrats’ discretion with algorithmic assessment affects the accuracy, equity, and public acceptance of tax decisions.
11 May 2026

Do work search requirements work? Evidence from a UK reform targeting single parents
We assess whether work search requirements for out-of-work welfare claimants are effective in inducing individuals to work & delivering fiscal savings
10 November 2026
