The government's fiscal credibility is at risk amid the possibility it announces pre-election tax cuts or spending later this year – on top of an upcoming Budget already based on ‘fiscal fiction’ – a...
Cutting taxes ahead of this year’s general election would only meet the government’s fiscal rule if some departments face a “fresh round of austerity”, which is unlikely given the state of public...
A better-than-expected outlook for public finances is likely to give chancellor Jeremy Hunt headroom for tax cuts ahead of the general election, an economist has said.
Lower-than-expected spending on energy support and the government’s near-total abandonment of last year’s ‘mini-budget’ have led ratings agency S&P Global to revise up its outlook for the UK.
The heavily criticised mini-budget has put additional pressure on the UK’s debt affordability and weakened the credibility of government policy, ratings agencies have said.
Income tax bands not rising in line with inflation will eclipse the benefit households might expect from tax cuts, meaning the government is effectively “giving with one hand and taking with the...
The “large and unfunded fiscal package” announced by Kwasi Kwarteng last month has been cited as one of the main reasons ratings agency Fitch cut its outlook for the UK’s credit rating to “negative...
Kwasi Kwarteng’s hastily rewritten speech at the Conservative Party conference was packed with mentions of growth and the need to bring down the UK tax burden, but commentators have expressed concern...
The government is likely to make tens of billions of pounds of spending cuts in the next few years to meet its fiscal targets, following its market-spooking package of tax cuts, a panel at a think-...
The government’s ‘Growth Plan’ risks weakening public finances, worsening inequality and leading to the Bank of England aggressively raising interest rates, major international institutions have...
The Bank of England has insisted it will put interest rates up “by as much as needed” to get inflation under control, in response to market reaction to the government’s announcements last week.
New chancellor Kwasi Kwarteng announced a raft of tax cuts including a reduction in national insurance payments, in a move he said will shift the economy from a “vicious cycle of stagnation into a...
Tax cuts in Friday’s ‘fiscal event’ are set to raise UK government borrowing by more than £30bn – more than half of the total increase in borrowing since the Office for Budget Responsibility last...
The new prime minister would face a £23bn cost if they want to help shelter households from the ongoing cost-of-living crisis by scaling up a previously announced scheme with inflation, a leading...
Plans for permanent tax cuts set out by Conservative Party leadership candidates will be “difficult” to implement given the economic environment the promises are being made in, Institute for Fiscal...
