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Our goal at the Institute for Fiscal Studies is to promote effective economic and social policies by better understanding how policies affect individuals, families, businesses and the government's finances.

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Today, about 1.6 million employees aged 25 and over are paid exactly at the living wage of £7.83 an hour. That's more than three times as many as were on the minimum wage in the early 2000s, soon after it was introduced.
In the Spring Statement, the Chancellor gives the country an update on the health of the economy, responding to the most recent forecast from the Office for Budget Responsibility. Read our analysis here.
There have been significant changes to the way higher education is funded in England over the past 20 years, moving to a heavily loan-based system. This work estimates how government spending is distributed by subject studied and university attended, based on grants and unrepaid student loans.
The government spends an astonishing £22 billion a year on housing benefit. That dwarfs spending on the police, on overseas aid and the budgets of many entire government departments.

Events

Upcoming event
Date 03 April 2019 | 18:30 - 20:00
Location The Royal Institution, London
Availablity Few places remaining
Tax underpins everything the government does and is often used by policy makers to try to shape the economy. Tax is also central to citizens’ views on whether our society is fair. This IFS at 50 event will look at how tax has changed in recent decades, what it means to aspire to a well-designed tax system, and how taxation will have to change to address the challenges of the future.
Upcoming event
Date 09 May 2019 | 18:30 - 22:00
Location One Birdcage Walk, London
Availablity Places available
The Institute for Fiscal Studies will be celebrating our 50th anniversary in 2019, and we'll be marking the occasion with an event and drinks reception held on the evening of 9 May 2019 in Westminster.
Upcoming event
Date 25 June 2019 | 18:30 - 20:00
Location The Royal Institution, London
Availablity Few places remaining
In the context of demographic change, among other trends, how will the incomes of pensioners in the future be supported? This IFS at 50 event will look at how our pensions and savings system has worked to support retirement incomes and how we should think about supporting future generations of pensioners in the decades to come.

Publications and research

Throughout 2019, we'll be discussing the big issues the British economy is going to face over the next fifty years. At an event on 27 February, we looked at the future of benefits.
The statistical analysis the government cites to justify not including deprivation in the funding formula for many key services does not stand up to full scrutiny.
Eventually, we will need to make a choice: more central funding and a genuinely national set of standards, or more devolution of tax-raising powers and more acceptance of local variation.
The Chancellor is yet to confirm how much money will be made available to departments at the 2019 Spending Review. To meet his promise to end austerity, Phillip Hammond will need to find billions of extra funding.
Since 2000, all households containing a person aged 75 or over have been entitled to receive a free TV licence. However, from June 2020, the government will no longer fund this. The BBC must now decide whether to continue to provide free TV licences for the over 75s from its within own funds or to change the policy.
The IFS is launching a major new £2.5 million study of inequality in the UK, funded by the Nuffield Foundation and chaired by Nobel Laureate Professor Sir Angus Deaton. Aiming to understand inequality not just of income, but of health, wealth and opportunity too, this five-year study will be one of the most ambitious of its kind.

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