Government finances and spending

The Government of India has taken a positive step in evaluating the workings of the GST. But fundamental reform could bring about a simpler, fairer and more efficient tax system.

Local government funding is rarely a major battleground in election campaigns. This ‘rule’ appears to be holding in the current campaign, despite evident pressures in areas like adults’ and children’s social care services, following a decade of cuts to councils’ funding.  This observation looks at the plans for English local government funding set out in the Conservative, Labour and Liberal Democrat manifestos – which differ vastly.

This presentation was given by Christine Farquharson at the 2019 General Election manifesto analysis briefing.

This presentation was given by Stuart Adam at the 2019 General Election manifesto analysis briefing.

This presentation was given by Carl Emmerson at the 2019 General Election manifesto analysis briefing.

This presentation was given by Robert Joyce at the 2019 General Election manifesto analysis briefing.

Here we outline an initial response from IFS researchers on the Conservative party manifesto. We take policy areas by turn but this is not a full assessment.

Below we outline an initial response from IFS researchers on the Labour manifesto. We take policy areas by turn but this is not a full assessment.

Below we outline an initial response from IFS researchers on the Liberal Democrat manifesto. We take a number of policy areas by turn but this is not a full assessment.

The Liberal Democrats’ manifesto, published today, puts childcare front and centre. The party is promising to spend – on its own costing - £13 billion on free childcare in 2024 (plus another £1 billion on Sure Start children’s centres). That’s almost £12 billion of free childcare spending in today’s prices – and a far sight more than the £3.7 billion we spend on free childcare in England today.

This presentation was given at Southwark Exchequer Services' Stakeholder Conference on 19 November 2019.

It seems unlikely that business rates and council tax will keep pace with costs and demand writes David Phillips in this article for the Local Government Chronicle.

On Wednesday 13th November, IFS researchers released their first annual report on local government revenue and spending issues, supported by our Local Government Finance and Devolution Consortium.

The 2010s saw big cuts to councils’ funding and spending, and while these may be over, rising costs and demands will mean further budget pressures. This report looks backwards and forwards at funding levels and reforms.

In this article for the Municipal Journal, David Phillips examines the choices the next Government will face, including whether (and how much) to raise taxes. What it decides could have big implications for councils and those who rely on their services.

The Chancellor and Shadow Chancellor have both outlined the fiscal targets that they would seek to adhere to. Mr Javid has chosen to adopt a forward-looking rolling target aimed at current budget balance. In other words, day-to-day spending could not exceed total revenues. This is very similar in nature to Mr McDonnell’s longstanding current budget target.

In this Facebook Live event, IFS Research Economist Rebekah Stroud looked at the economics of "sin taxes", answering questions such as how high or low should these taxes be, and who bears the burden of them?