Budget 2008

Published on 12 March 2008

After each Autumn Statement, Budget and Spending Review, we publish analysis of the Chancellor's proposals and reforms.

Briefing and analysis

The Chancellor delivered his Budget statement at 12.30 pm on Wednesday 12th March 2008. Immediate analysis from IFS is available in this press release. On Thursday 13th March, the day following the Budget, the Institute for Fiscal Studies held a lunchtime briefing at The Building Centre, near the IFS offices in London.

Presentations can be downloaded here:

Green Budget 2008

The IFS Green Budget 2008 assesses key questions that the Chancellor has to confront in drawing up his 2008 Budget statement. The areas covered are fiscal policy, public spending and the public finances; public sector pay and pensions; capital gains tax and small company taxation; taxation of foreign profits and tax simplification and aviation taxation. Published in collaboration with Morgan Stanley, the Green Budget also discusses the outlook for economic growth, debt management and the credit market. These topics and others were covered in our general election analysis in 2005; we examined Labour's record since 1997 and the proposals in the three largest parties' manifestos.

Public finances

  • Since October 2002 IFS has produced monthly bulletins analysing the government's public finance figures.
  • On 7 February 2008 IFS produced a press release analysing the effect on the public finances of classifying Northern Rock as part of the public sector.

Poverty and inequality

Income Tax and National Insurance reform

  • Integrating Income Tax and National Insurance: an interim report. Income Tax and National Insurance are now sufficiently similar that merging them appears to be a plausible option, yet still sufficiently different that integration raises significant difficulties. This paper surveys the potential benefits of integration and the potential obstacles.