Government finances and spending

The government’s fiscal devolution roadmap has arrived. 

The fiscal devolution roadmap makes it clear the system will allow areas to gain financially from growth, but with guardrails in place. 

The fiscal devolution roadmap sets out plans to share income tax with England’s mayors – but some details need rethinking. 

What has the Budget changed? IFS economists consider the announcements, higher borrowing and the difficult choices ahead on taxes and public spending.

IFS researchers provide a response to the new economic forecast and major policy announcements contained in the 2026 Budget. 

This piece sets out a set of ‘fiscal traffic lights’ for evaluating overall fiscal sustainability. 
 

Funding further increases in defence spending would require hard choices, both at this Budget and in the years ahead. 

What should we expect from the October Budget? IFS economists discuss the choices facing the Chancellor on energy bills, taxes and public spending.

Higher inflation, rising borrowing and potential spending cuts: what will the Chancellor’s first Budget mean for the economy and households today?

UK government borrowing costs are high, but recent rises reflect global factors and the attention of the bond markets is currently elsewhere.

Conflict in the Middle East and the subsequent energy price shock will squeeze households and make the economic backdrop to the Budget more difficult.

At his first Budget, the Chancellor faces an uncertain outlook for the economy, and added pressures on public spending from higher inflation.

Departmental spending growth is slowing amid pressures on budgets and new spending ambitions. We assess the Chancellor’s choices at this Budget.

At the Budget there may be temptation to reach for more efficiency savings, but the priority should be the ambitious plans departments already have.

HM Treasury is covering losses as the Bank of England unwinds QE. Recent economic and policy changes affect the scale of losses in the near term. 

Higher inflation, higher government borrowing costs and pressures on public services will be the key challenges faced by the Chancellor at the Budget.

The biggest beneficiaries would be those with the highest wealth and the most valuable homes.

David Phillips looks at how the government can get its tax revenue sharing plans right.

The government has committed to sharing tax revenues with England’s regional mayors. What decisions have to be taken on how this works in practice?