The IFS Green Budget 2024, in association with Citi and with funding from the Nuffield Foundation, provides in-depth analysis of the economic challenges and trade-offs facing the new Chancellor this October.
In July, Rachel Reeves claimed the new government had inherited a £22bn 'black hole' in the public finances. At her first Budget, Ms Reeves will set out her fiscal rules and a path for overall spending on public services for the next four years, as well as making important decisions about taxes and announcing the outcome of her Spending Review for the coming financial year. This year’s Green Budget gave the context behind those decisions, which will in turn set the tone for the rest of the parliament.
At this online webinar, researchers presented the findings from the chapters on the UK economic outlook, the public finances, and public spending.
00:00 - Introduction by Paul Johnson (IFS)
03:43 - Introduction by Mark Franks (Nuffield Foundation)
09:25 - Introduction by Benjamin Nabarro (Citi)
10:07 - Economic outlook: navigating the endgame
23:45 - Public service spending: challenges and options
34:27 - Outlook for the public finances in the new parliament
49:03 - Q&A
