Government spending plans remain within a fiscal rule to show debt falling as a share of the economy in a few years’ time, but this largely relies on fuel duty rising – a prospect described by a...
The government should avoid “prioritising politically driven tax cuts while decimating services” during Wednesday’s Budget, public sector unions have said.
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...
The government does not properly monitor the effectiveness of tax reliefs, meaning billions of pounds of subsidies may not deliver economic growth, the National Audit Office has said.
Increasing taxes would bring the tax burden in line with other advanced economies and support more effective public services, the Institute for Public Policy Research has said.
The government might lose around £15bn a year by 2032 if it decides to ditch inheritance tax, economists at the Institute for Fiscal Studies have warned.
Proposals to raise council tax rates for properties in the highest bands in Scotland shy away from the fundamental reform local taxation needs, researchers have said.
Unexpected tax growth in Scotland was not enough to avoid the removal of £390m of block grant funding in 2024-25, the nation’s fiscal commission has said.
The government will need to adopt permanent tax hikes or spending cuts to avoid debt soaring to more than 300% of GDP by the 2070s, the Office for Budget Responsibility has warned.
Proposals to increase council tax rates in Scotland will impact the highest value properties and make the levy less regressive, ministers and local leaders have said.
The rise of electric vehicles will leave a £10bn hole in UK public finances within a decade as fuel duty revenue dwindles, and the government faces calls to overhaul road taxes to make up for it.
The exodus of working-age people from their jobs since Covid-19 could be halted if the government takes action on pensions, childcare and widespread ill-health, but those who have already retired are...
Scottish Government proposals for increasing taxes on higher earners to fund more generous benefits are more progressive than the rest of the UK, but are at risk of being avoided, the Institute for...
The Scottish Government has outlined plans to increase taxes on high earners and provide more funding to local authorities next year to help manage pressures stemming from the cost-of-living crisis.
Higher borrowing costs and spiralling inflation amid weaker economic growth mean public finances have “materially worsened” since March, the Office for Budget Responsibility has said.
Chancellor Jeremy Hunt is set to make up to £60bn of spending cuts and tax increases to help shrink the government’s medium-term budget gap, despite the cost-of-living crisis, according to reports.
Ministers are set to introduce a cap on renewable energy revenues, aiming to “reduce the impact of unprecedented wholesale prices on consumers” in a move labelled a windfall tax by Labour.
A Labour government would create a national wealth fund to invest in renewable energy to help create a “greener, fairer Britain” – one of several announcements made by senior party figures including...
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...
