When a government plans to pass a law, it often publishes a green paper. This is an opportunity to share its thinking and provoke discussion.
The Finance Bill is a law Parliament passes to renew taxes, propose new taxes, and maintain the administration of the tax system. It enacts proposals announced in the Budget, which the Chancellor writes in secret. There’s no green paper. This means important decisions about taxes, spending and public policy are made without consultation.
The IFS Green Budget 2020 is produced in association with Citi and with funding from the Nuffield Foundation. It analyses the huge economic trauma since the March Budget, the much heightened uncertainty over the path of the economy in coming years, and the big decisions confronting Chancellor Rishi Sunak as he continues to decide how policy should respond to support households, business and public services in the coming year and beyond.