IFS warns Rachel Reeves against ‘half-baked dash for revenue’

The GuardianMonday, October 13, 2025 at 4:00:11 AM
IFS warns Rachel Reeves against ‘half-baked dash for revenue’
The Institute for Fiscal Studies has issued a warning to UK Chancellor Rachel Reeves, advising her against a rushed approach to revenue generation in the upcoming budget. They argue that a hasty strategy could lead to significant economic damage, emphasizing the need to address longstanding inefficiencies and unfairness in the tax system. This matters because the decisions made in the budget could have lasting impacts on the UK economy and public services, making it crucial for Reeves to consider a more thoughtful approach.
— Curated by the World Pulse Now AI Editorial System

Was this article worth reading? Share it

Recommended Readings
Kate Bush and artists harness power of Running Up That Hill for War Child appeal
PositiveWorld Affairs
Kate Bush is making a significant impact by collaborating with 52 UK visual artists to raise funds for children affected by war through her iconic song 'Running Up That Hill.' This initiative not only showcases the power of art and music in addressing global issues but also highlights the importance of supporting vulnerable communities. By inviting artists to interpret her lyrics, Bush is fostering creativity while drawing attention to the urgent need for humanitarian aid, making this project both meaningful and timely.
UK charities say toxic immigration rhetoric leading to threats against staff
NegativeWorld Affairs
UK charities are sounding the alarm over a rise in threats and violence against their staff, attributing this alarming trend to the toxic rhetoric surrounding immigration and race from politicians and extremist groups. As a result, these organizations are being compelled to implement extensive security measures to safeguard their employees and properties. This situation is concerning not only for the safety of charity workers but also for the vulnerable communities they serve, highlighting the urgent need for a more compassionate and responsible discourse on immigration.
Live: Reinstated French PM Lecornu’s new govt takes office as budget pressure intensifies
NeutralWorld Affairs
Sébastien Lecornu has officially taken office as the French Prime Minister, stepping into a challenging role as his government faces urgent pressure to produce a budget amidst rising political turmoil. This situation is causing concern among businesses and investors, potentially impacting France's reputation. Lecornu's ability to navigate these challenges and seek compromises will be crucial to avoid a no-confidence vote in the National Assembly, making this a pivotal moment for his administration.
UK MPs urged to investigate TikTok’s plans to cut 439 content moderator jobs
NegativeWorld Affairs
UK MPs are being urged to investigate TikTok's alarming decision to cut 439 jobs from its content moderation team in London. This move has raised serious concerns among trade unions and online safety experts, who warn that such job losses could leave children more vulnerable to harmful content online. The implications of these redundancies extend beyond just employment; they could significantly impact the safety of young users on the platform, making it a pressing issue for lawmakers to address.
Energy firms complete UK’s first ‘hydrogen blending’ trial to power grid
PositiveWorld Affairs
In a significant step towards a greener future, energy companies in the UK have successfully injected a 2% blend of green hydrogen into the gas grid, marking the first trial of its kind. This innovative approach powers the Brigg power station in North Lincolnshire, showcasing the potential of low-carbon gas to contribute to the country's climate goals. This trial not only demonstrates the feasibility of hydrogen blending but also paves the way for more sustainable energy solutions in the UK, highlighting the commitment to reducing carbon emissions.
Woman, 53, becomes UK’s longest survivor of heart and lung transplant
PositiveWorld Affairs
Katie Mitchell, who underwent a heart and lung transplant at just 15 years old due to Eisenmenger syndrome, has made history as the UK's longest survivor of this life-saving procedure at 53. Her remarkable journey not only highlights the advancements in medical science but also serves as an inspiring testament to resilience and hope for others facing similar health challenges.
France’s Macron unveils new government ahead of budget deadline
NeutralWorld Affairs
France's President Emmanuel Macron has introduced a new government led by Prime Minister Sebastien Lecornu, which is tasked with presenting the draft budget for 2026 by Monday. This development is significant as it comes at a crucial time for the French government, highlighting the ongoing efforts to manage the country's financial planning and economic stability.
French PM Lecornu names new government before looming budget deadline
NeutralWorld Affairs
French Prime Minister Sebastien Lecornu has announced a new government following a meeting with President Emmanuel Macron, as the country faces a pressing budget deadline and ongoing political unrest. This reshuffle includes both familiar figures and new faces, but the stability of this team remains uncertain. The situation is significant as it highlights the challenges Lecornu must navigate to restore confidence and address the financial needs of France.
Jonathan Powell had no role in dropping of China spy case, senior minister says
NeutralWorld Affairs
In a recent statement, senior cabinet minister Bridget Phillipson clarified that Jonathan Powell, the government's national security adviser, was not involved in the decision to drop the prosecution against two British men accused of spying for China. This clarification is significant as it addresses concerns about the integrity of the decision-making process in national security matters, ensuring transparency and accountability in government actions.
Lucy Powell calls on Labour not to ‘write off’ May local elections
PositiveWorld Affairs
Lucy Powell, a leading candidate for Labour's deputy leadership, urges the party not to dismiss the upcoming May local elections as a lost cause. She believes that the upcoming budget could be a pivotal moment to regain voter interest and support. Meanwhile, her rival Bridget Phillipson is focusing on incorporating grassroots opinions into the party's strategy. This is significant as it highlights Labour's efforts to reconnect with voters and potentially turn the tide in future elections.
UK small businesses and charities say nuclear levy could add thousands to bills
NegativeWorld Affairs
UK small businesses and charities are raising alarms over a new nuclear levy set to take effect next month, which they believe could significantly increase their energy costs by thousands of pounds annually. This levy, aimed at supporting the government's nuclear power initiatives, comes at a time when energy-intensive industries have been exempted, placing an unfair burden on smaller organizations. The potential rise in expenses could lead to cuts in community services and hinder economic growth, making it a pressing issue for many.
French PM Lecornu races against the clock to form govt cabinet
NeutralWorld Affairs
French Prime Minister Sebastien Lecornu is under pressure to finalize his government cabinet by the upcoming budget deadline on Monday. This situation is complicated by internal divisions within the conservative Les Republicains party regarding their willingness to accept ministerial roles. The outcome of this cabinet formation is crucial as it will impact the government's ability to implement its budget and policies effectively.
Latest from World Affairs
🔴 Live: Buses carrying Palestinian prisoners freed under Gaza truce deal arrive in Ramallah
PositiveWorld Affairs
In a significant development, buses carrying Palestinian prisoners have arrived in Ramallah as part of the recent Gaza truce deal. This event marks a hopeful step towards peace and reconciliation in the region, highlighting the ongoing efforts to address humanitarian concerns and foster dialogue. The release of these prisoners is seen as a gesture of goodwill, potentially paving the way for further negotiations and stability.
Reeves urged to avoid 'half-baked' tax fixes in Budget
PositiveWorld Affairs
A think tank is urging the government to take advantage of the current situation to implement meaningful tax reforms in the upcoming budget. This is important because a well-structured tax system can lead to economic growth and fairness, benefiting citizens and businesses alike.
EU accuses Russia of 'gambling with war' after airspace violations
NegativeWorld Affairs
The European Union has strongly condemned Russia for its recent airspace violations, labeling the actions as 'gambling with war.' During a visit to Kyiv, EU diplomat Kaja Kallas emphasized the need for Europe to leverage its economic strength for military deterrence, especially as Ukraine braces for intensified Russian assaults on its energy infrastructure this winter. This situation is critical as it not only threatens regional stability but also poses significant risks to European security.
French political crisis continues as Lecornu unveils new government – Europe live
NegativeWorld Affairs
The political crisis in France deepens as Marine Le Pen and Éric Ciotti have submitted a joint motion of no confidence against the government, with support from the left's France Unbowed. This turmoil comes amid rising tensions in Europe, highlighted by EU diplomat Kaja Kallas's warning about Russia's aggressive actions in airspace incursions. The situation is critical as NATO enhances its air defenses, indicating a broader concern over security in the region. This matters because it reflects the instability within French politics and the potential implications for European security.
Two in court accused of killing jailed singer Watkins
NegativeWorld Affairs
Two individuals are facing court proceedings following the tragic death of former Lostprophets frontman Ian Watkins, who was fatally injured while incarcerated at HMP Wakefield. This incident raises serious concerns about safety within the prison system and the treatment of inmates, especially those with high-profile backgrounds. The case has garnered significant media attention, highlighting the ongoing issues surrounding violence in correctional facilities.
Israeli hostage release: all living captives now freed, says Hamas, as Trump due to address Knesset – latest updates
PositiveWorld Affairs
In a significant development, Hamas has announced the release of all living Israeli hostages after more than 780 days in captivity. This momentous event is not only a relief for the families of the captives but also marks a potential turning point in the ongoing tensions in the region. As Donald Trump prepares to address the Knesset, the situation is drawing international attention, highlighting the complexities of peace efforts in the Middle East.