Skip to main content

Main menu

  • Topics
    Topics

    Topics

    Business and investmentConsumption and pricesEducation and skillsEmployment and incomeGovernment finances and spendingHealth and social careInternational developmentPoverty, inequality and social mobilityResearch methodsSavings, pensions and wealthTaxes and benefits

    Collections

    Student financeNHS waiting listsLevelling upHousing
    Help me find something
  • Research and analysis
    Research and analysis
    • Reports
      Reports

      Featured content

      The Mirrlees Review
    • Comment
    • Working papers
    • Journals
    • Press releases
    • Presentations
    • Fiscal Studies
    • Data
    • Fiscal facts
    Help me find something
  • Podcasts, explainers and calculators
    Podcasts, explainers and calculators
    • Podcasts
    • Explainers
    • Calculators and tools
      Calculators and tools

      Additional resources

      Fiscal factsGuides, manuals, software and more
    Kier Starmer

    One year of Labour government: Is mission-driven politics really happening?

    podcast
    <article class="text-token-text-primary w-full" dir="auto" data-testid="conversation-turn-8" data-scroll-anchor="true"><div class="text-base my-auto mx-auto pb-10 [--thread-content-margin:--spacing(4)] @[37rem]:[--thread-content-margin:--spacing(6)] @[72rem]:[--thread-content-margin:--spacing(16)] px-(--thread-content-margin)"><div class="[--thread-content-max-width:32rem] @[34rem]:[--thread-content-max-width:40rem] @[64rem]:[--thread-content-max-width:48rem] mx-auto flex max-w-(--thread-content-max-width) flex-1 text-base gap-4 md:gap-5 lg:gap-6 group/turn-messages focus-visible:outline-hidden" tabindex="-1"><div class="group/conversation-turn relative flex w-full min-w-0 flex-col agent-turn"><div class="relative flex-col gap-1 md:gap-3"><div class="flex max-w-full flex-col grow"><div class="min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-5" data-message-author-role="assistant" data-message-id="03e37e06-66d3-4aef-942d-d900469b56d7" dir="auto" data-message-model-slug="gpt-4o"><div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]"><div class="markdown prose dark:prose-invert w-full break-words dark"><p data-start="0" data-end="161" data-is-last-node="" data-is-only-node="">One year into Labour’s government, we assess whether its mission-driven approach has changed how it governs and what progress has been made.</p></div></div></div></div></div></div></div></div></article>

    18 July 2025

    Pensioners looking at bank statement

    How to fix UK pensions?

    podcast
    <p>Can the UK pensions system deliver a decent standard of living in retirement? We explore the challenges and changes needed.</p>

    4 July 2025

    Children's centre

    The policy that changed childhood in the UK

    podcast
    <p>What was Sure Start, what impact did it have, and why does it still matter? We speak to Christine Farquharson and Ed Balls to find out.</p>

    26 June 2025

    Additional resources

    Guides, manuals, software and moreFiscal facts: public finances, tax and benefits
    Help me find something
  • Events
    Events
    • Events
    • Seminars
    • Annual lectures
    • Past presentations
    Image of Prime Minister Keir Starmer

    Labour’s first year in power: is this still a mission-driven government?

    event 15 July 2025
    <p>The Institute for Fiscal Studies and the Institute for Government discussed Labour's first year in power at a joint event.</p>
    Help me find something
  • About
    About
    • People
      People
      • Research fellows
      • Research Associates
      • Former research staff
      • Visitors
      • Communications, finance and administration
    • Announcements
    • Governance
    • How we are funded
    • Impact
    • Jobs
    • Press office
    • History of the IFS
    • Contact
    Staff and students meeting in the office

    Jobs

    landing page
    <p>At IFS, we recruit and train top-quality economists and professional support staff. We aim to foster a respectful and inclusive working environment.</p>

    20 July 2022

    CPP Logo

    Centre for the Microeconomic Analysis of Public Policy

    The Research Centre at the heart of IFS is the CPP.
    Help me find something

Header right menu

  • Join us
  • Newsletters

Sites menu

Our sites

  • Classroom
    Resources for A-level / Post-16 teachers and students
  • CPP logo
    Centre for the Microeconomic Analysis of Public Policy
  • IFS Deaton Review of Inequality
    Inequality: The IFS Deaton Review
  • TaxLab logo
    TaxLab
  • The Pensions Review
    The Pensions Review
  • TaxDev
    TaxDev
  • Election 2024 logo
    Election 2024
  • Tax Law Review Committee
    Tax Law Review Committee
  • Education spending
    Education spending
  • How would you fund the NHS
    How would you fund the NHS?
  • cemmap
    cemmap
  • ELSA logo
    English Longitudinal Study of Ageing
Help me find something
Help me find something
Featured
  • Green budgets
  • Budget analysis
  • Elections
  • Scotland
  • Fiscal Studies
  • Pensions Review
  • Mirrlees Review
  • Living standards, poverty and inequality
  • IFS Deaton Review

Explainer

The mini-Budget explained

  • Paul Johnson - Former Director

Published on 23 September 2022

Paul Johnson provides an immediate response to the government's mini-Budget.

  • Government finances and spending
  • Taxes and benefits
  • Tax
  • Benefits
  • Public finance
  • Government spending
Kwasi Kwarteng

Share

      Authors

      Paul Johnson
      Paul Johnson - Former Director

      Explainer details

      DOI
      10.1920/ex.ifs.2024.0052
      Publisher
      Institute for Fiscal Studies

      Suggested citation

      Johnson, P. (2022). The mini-Budget explained [Explainer] Institute for Fiscal Studies. Available at: https://ifs.org.uk/articles/mini-budget-explained (accessed: 19 July 2025).

      Funded by

      More from IFS

      Understand this issue

      Kier Starmer

      One year of Labour government: Is mission-driven politics really happening?

      podcast

      One year into Labour’s government, we assess whether its mission-driven approach has changed how it governs and what progress has been made.

      18 July 2025

      roundabout

      Paul Johnson’s final episode: big challenges ahead for the UK economy

      podcast

      In Paul's final episode, he speaks with incoming IFS Director Helen Miller about the big economic pressures facing the UK.

      9 July 2025

      Pensioners looking at bank statement

      How to fix UK pensions?

      podcast

      Can the UK pensions system deliver a decent standard of living in retirement? We explore the challenges and changes needed.

      4 July 2025

      Policy analysis

      Rachel Reeves

      Rachel Reeves will need to face up to fantasists on both sides

      comment

      The chancellor has to somehow reconcile tax and spending, but both her own Labour MPs and the Tory opposition are still living in a dream world 

      7 July 2025

      retired couple walking in park

      The Pensions Review: final recommendations

      report

      We provide concrete recommendations to improve the UK pension system to secure better standards of living for future pensioners.

      2 July 2025

      Image of Prime Minister Keir Starmer

      Labour’s first year in power: is this still a mission-driven government?

      event 15 July 2025 at 10:30

      The Institute for Fiscal Studies and the Institute for Government discussed Labour's first year in power at a joint event.

      Academic research

      Working paper cover

      Focal pricing constraints and pass-through of input cost changes

      working paper

      I prove that, in a simple but general framework, expected pass-through is unchanged by the presence of focal pricing constraints.

      10 July 2025

      Policy costing manual cover

      Manuel de l’estimation du coût d’une politique fiscale

      resource

      Introduction à l’estimation du coût d’une politique fiscale: Un manuel et des exemples pratiques

      8 July 2025

      Journal Article Cover

      Tax equity in low- and middle-income countries

      journal article

      In this paper, the authors ask what role taxation can or might play in reducing inequality in low and middle-income countries.

      2 July 2025

      Follow IFS Follow Subscribe to our podcasts Listen

      Footer menu top

      • Contact
      • Press office
      • Jobs
      • Data

      Sign up to IFS newsletters

      We send out regular emails about research and events. We also send out a monthly newsletter with a summary of recent work.

      * indicates required
      Select subjects

      Join us

      Individual membership:

      Objective analysis of economic policy is more important now than it has ever been. You can join our network and help improve public debate and government policy by becoming a member.

      Find out more and join

      Corporate membership:

      Help us to inform and improve government policy and public debate through high-quality, independent research.  

      Find out more and join

      The Institute for Fiscal Studies
      2 Marylebone Road
      London
      NW1 4DF

      Tel: 020 7291 4800
      Fax: 020 7323 4780
      Email: [email protected]

      Limited by guarantee
      Registered in England: 954616
      Registered charity: 258815

      • Copyright
      • Privacy
      © 2025 The Institute for Fiscal Studies Design and development by Soapbox