The IFS Green Budget 2004

The Green Budget 2004 was edited by Robert Chote, Carl Emmerson and Zoë Oldfield, and copy-edited by Judith Payne.

It was produced with support from the Nuffield Foundation and the ESRC-funded Centre for Fiscal Policy at IFS.

Chapter 1: SUMMARY

Chapter 2: PLANNING THE PUBLIC FINANCES

2.1 The Chancellor's fiscal rules
2.2 The Maastricht Treaty fiscal rules
2.3 A third fiscal rules: more active stabilisation
2.4 Conclusions

Chapter 3: IFS PUBLIC FINANCE FORECASTS

3.1 Borrowing in 2003-04
3.2 Borrowing in 2004-05
3.3 Medium-term prospects
3.4 The Budget judgement

Chapter 4: OPTIONS FOR RAISING REVENUE

4.1 Options for raising revenue
4.2 Income tax and National Insurance rates
4.3 Income tax and National Insurance thresholds
4.4 VAT
4.5 Excise duties
4.6 Other taxes
4.7 Conclusion

Chapter 5: THE TAXATION OF HOUSING

5.1 The taxation of housing
5.2 Is housing undertaxed?
5.3 Options for reform
5.4 Conclusions

Chapter 6: COMPANY TAXATION

6.1 Company taxation
6.2 Corporate tax reform
6.3 The 0% starting rate of corporation tax

Chapter 7: ISSUES IN PUBLIC SERVICE DELIVERY

7.1 Issues in public service delivery
7.2 Delivering better public services?
7.3 Issues in planning public services
7.4 Options for Spending Review 2004
7.5 Conclusions

Chapter 8: APPENDICES

Appendix A: Forecasting public finances
Appendix B: Budgets since 1979
Appendix C: Headline tax and benefit rates and thresholds
Appendix D: Tax revenues ready reckoner

© The Institute for Fiscal Studies, January 2004