Living standards, poverty and inequality in the UK: 2024
Key findings What has happened to living standards since the pandemic? 1. Between 2021–22 and 2022–23, median household income before housing costs (BHC) fell by 0.5%.
5 Living standards, poverty and inequality in the UK: 2024 Poverty and deprivation 1. Despite the significant challenges posed first by the pandemic and then the cost-of-living crisis, poverty …
Capital gains tax reform | Institute for Fiscal Studies
Oct 6, 2024 · Key findings. 1. Capital gains tax (CGT) raises around £15 billion per year, less than 2% of total tax revenue. Revenues have risen significantly over time and are forecast to rise …
What does the government spend money on? - Institute for Fiscal …
The government spends huge amounts of money each year on our behalf. In 2022–23, UK government spending was almost £1,200 billion, or around £17,000 per person.
The future of the state pension | Institute for Fiscal Studies
Dec 13, 2023 · Executive summary. In this major report of the Pensions Review, led by the Institute for Fiscal Studies in partnership with the abrdn Financial Fairness Trust, we consider …
National Insurance contributions explained | IFS Taxlab
National Insurance contributions (NICs) are the UK’s second-biggest tax, expected to raise just under £170 billion in 2024–25 – around a sixth of all tax revenue.
Be the Chancellor - Institute for Fiscal Studies
Our interactive tool lets you be the Chancellor. Change spending plans, set tax policies and see how your choices impact borrowing and debt.
Tax, private school fees and state school spending
Executive summary. The Labour party has proposed a package of policies to remove tax exemptions from private schools. Most importantly in revenue terms, it has proposed levying …
IFS | Institute for Fiscal Studies
IFS is the UK’s leading independent economics research institute. We analyse and inform economic and policy decisions with academic rigour and absolute independence.
Where does the government get its money? - Institute for Fiscal …
Most UK government revenue is from tax. In 2023–24, total UK government revenue is forecast to be £1.06 trillion, or 41% of gross domestic product Gross domestic product (GDP) is a …