Rising inflation, a cost of living crisis, striking public sector workers, the NHS facing another winter crisis… costs on the public purse are spiralling and government borrowing is being pushed still higher.
So is it true to say there is no more money left?
This week the Expert Factor team take a deep dive into the state of Britain’s public finances. What would it mean if we stick to current tax and spend policies? What choices are facing this country’s politicians and its public services? What does the country expect its governments to deliver – and how does it expect it to be paid for? And what did we learn from the Labour and Conservative conferences about the two parties’ plans for the economy?
Participants
Director
Paul has been the Director of the IFS since 2011. He is also currently visiting professor in the Department of Economics at University College London.
Anand Menon
Director UKICE
Hannah White
Director Institute for Government
Podcast details
- DOI
- 10.1920/pd.ifs.2024.0031
- Publisher
- Institute for Fiscal Studies
More from IFS
Understand this issue
What is this government’s ‘theory of growth’? Nobody knows
"Shifting the performance of an entire economy requires a long-term, consistent and persistent direction." Paul Johnson writes for the Times.
20 January 2025
Why did the French Budget fail to pass?
France’s failed budget highlights fundamental challenges with public debt, slow growth, and the need for significant reforms.
12 December 2024
Share of apprenticeship budget spent on each apprenticeship level
The proportion of funding directed to higher-level apprenticeships (level 4 and above) has trebled between 2017–18 and 2021–22 from 13% to 39%.
16 January 2025
Policy analysis
Rachel Reeves’s new year predicament
Rising interest rates could put the government on track to miss its fiscal rules. What are the Chancellor’s options?
10 January 2025
Spending per pupil or student per year at different stages of education (2024–25 prices)
This chart compares the trends in public spending per student on various stages of education over time in England.
16 January 2025
Rising interest rates erode razor-thin margin against fiscal targets
If a recent rise in borrowing costs proved persistent, it will make it even harder for the Chancellor to continue to meet her main fiscal rule.
9 January 2025
Academic research
6th World Bank/IFS/ODI Public Finance Conference | Driving Progress: Public Finance and Structural Transformation
The unintended consequences of infrastructure development
8 May 2024
Call for papers: 5th World Bank/IFS/ODI Research Conference
3 April 2023