Earlier this week, markets reacted to comments by the governor of the Bank of England by bringing forward their expectations of when interest rates will rise. What will this mean for different generations?

In most of our analysis of education spending, we focus on spending in England to ensure comparability. In this observation, we expand our analysis to show the level and changes to school spending per pupil across the four nations of the UK.

By 2026, despite the sharp reduction in borrowing, the UK is forecast to see the second-biggest increase in government debt out of 28 economies for which comparable forecasts are available – with only the US seeing a bigger increase.

Press reports suggest that the Chancellor is planning an overhaul of the UK’s system of alcohol duties. The current system, which raises about £12 billion a year, is certainly ripe for reform.