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 seeks to fill that gap, and provide in-depth analysis of the economic challenges and trade-offs facing the Chancellor ahead of the Budget each year.