Autumn Statement 2023: IFS analysis

Chancellor Jeremy Hunt presented his Autumn Statement on Wednesday 22nd November. With a general election on the horizon, a UK record tax burden looming, and borrowing this year on course to be lower than forecast in March, the pressure for tax cuts is strong. However, inflation and interest rates remain relatively high, and the public finances are in a considerably worse state than expected in March 2022, let alone prior to the pandemic, posing difficult challenges.

IFS researchers presented their initial analysis of the Chancellor's announcements on the following day, Thursday 23rd November, at an online webinar.

00:00 - Opening remarks by Paul Johnson
17:04 - Public finances: keeping debt high?
34:18 - Public service spending: an even bigger squeeze
41:24 - Personal taxes and benefits
57:55 - Full expensing for corporation tax
1:04:00 - Q&A