We conduct ongoing analysis of the outturns of, and outlook for, the public finances. Our work in this area assesses the records of successive governments, and looks at forecasts for government revenues and spending (overall and in specific areas), with the aim of informing the public debate.
Response to government consultation on business rate retention
This is a response by David Phillips, an Associate Director at the Institute for Fiscal Studies (IFS), to the government consultation “100% business rates retention: further consultation on the design of the reformed system”. The views and opinions expressed here are those of the author only. The IFS has no corporate views.
Social care – a step forwards or a step backwards?
Yesterday, the Conservative Party proposed changes to the rules governing who is eligible for government funding for social care, and backed away from a lifetime cap on care costs. In this observation, we discuss those changes and lay out their potential effects. Taking the population of people in their 70s in England we estimate that, on becoming in need of care in their own home, 12-17% would be eligible for state support under current rules but would not be eligible under the new rules proposed by the Conservatives. Others would find they needed to use more of their own wealth to fund the costs of care in their home before the state stepped in.