public finance

Theresa May accused of insulting teachers as pay rise is held at 1%

Theresa May accused of insulting teachers as pay rise is held at 1%

Deal first to be announced since Tory MPs raised concerns over public sector pay following the poor election performanceTheresa May has been accused of insulting teachers by offering them a 1% pay
Public sector workers need a pay rise – even Tory voters think so | Frances O’Grady

Public sector workers need a pay rise – even Tory voters think so | Frances O’Grady

Public servants’ pay continues to plummet in real terms, but the consensus is growing that they should receive a rise. The government must listenAlthough it seems longer, it was just three weeks ago
Oliver Letwin: government must look at tax rises for sake of public services

Oliver Letwin: government must look at tax rises for sake of public services

Former head of policy for David Cameron believes people are willing to see taxes go up to fund NHS and social careOne of the key architects of David Cameron’s austerity programme has suggested the
Extra £1bn for Northern Ireland will barely dent public finances

Extra £1bn for Northern Ireland will barely dent public finances

UK government will spend £802bn this year, so funds ‘not much more than rounding error’, says IFS deputy headThe deal to spend an extra £1bn over two years in Northern Ireland will do little to
The Grenfell Tower tragedy should see off austerity. But don’t hold your breath | Patrick Butler

The Grenfell Tower tragedy should see off austerity. But don’t hold your breath | Patrick Butler

While its residents are exempt from some of the government’s harshest welfare policies, it’s pretty much business as usual for everyone elseWhile the ideological certainties underpinning the past six
Pound jumps after Haldane turns hawkish and UK deficit falls – as it happened

Pound jumps after Haldane turns hawkish and UK deficit falls – as it happened

All the day’s economic and financial news, including a new healthcheck on Britain’s public financesLatest: Haldane says rates may rise this yearSterling hits $1.27Harrison: Is he trying to annoy Mark
Tories may have to ease austerity plans, says Michael Gove

Tories may have to ease austerity plans, says Michael Gove

Lack of majority means government will need to compromise on public services and Brexit, environment secretary says The lack of a majority government means the Conservatives will probably have to ease
For disabled people like me, this election will be a life-changer | Luke Nash

For disabled people like me, this election will be a life-changer | Luke Nash

The progress of the past 50 years has stalled, and the government has stopped listening – that’s why we’re holding Tuesday’s disability hustingsNext year I’ll be leaving school and I don’t know what
Is Labour's manifesto living in fantasy land? Quite the opposite | Larry Elliott

Is Labour's manifesto living in fantasy land? Quite the opposite | Larry Elliott

Imperfect it may be, but Labour’s manifesto recognises the economic status quo can’t be kept going for much longerTen years ago this month, Britain was on the cusp of change. Two things were about to
UK needs £15bn in cuts or tax rises to clear deficit by 2022, says IFS

UK needs £15bn in cuts or tax rises to clear deficit by 2022, says IFS

Tory austerity drive has made little difference to public spending as a share of national income, leading thinktank findsIt will take an extra £15bn of spending cuts or tax rises to eliminate the
On mental health, the royal family is doing more than our government | William Davies

On mental health, the royal family is doing more than our government | William Davies

There is no greater indictment of British society than soaring rates of mental distress in children. No wonder politicians cling to a simplistic ‘illness’ modelThe public profile of mental health
Bullying of disabled people has got worse – because it’s government-sanctioned | Penny Pepper

Bullying of disabled people has got worse – because it’s government-sanctioned | Penny Pepper

People feel they have permission to abuse us, because austerity has rendered us second-class citizens, excluded from society. This has to be addressedThe bullying of disabled people can often be
Public sector workers first to face cut in real pay, says thinktank

Public sector workers first to face cut in real pay, says thinktank

Wages in sector will fall by 2020 to levels last seen a decade ago, the Resolution Foundation forecastsPublic sector workers have become the first group to suffer a cut in real wages since the
Don't be fooled. Britain's not too poor to be decent – video

Don't be fooled. Britain's not too poor to be decent – video

The narrative that Britain is a poor country has been peddled for years, says Hugh Muir. But, he argues, the government is using the excuse of poverty to avoid its moral duties, such as funding the
Philip Hammond breaks manifesto pledge with budget tax grab

Philip Hammond breaks manifesto pledge with budget tax grab

Chancellor increases national insurance for self-employed, contrary to promise made four times in 2015 election manifestoPhilip Hammond sparked a political row on Wednesday with a tax grab on
Budget will hold no big surprises on spending or tax, chancellor says

Budget will hold no big surprises on spending or tax, chancellor says

Philip Hammond denies big changes in spring budget as UK economy continues to perform strongly. But what does that mean for public finances?Philip Hammond has played down the significance of the
Spring budget 2017: drop in government borrowing predicted

Spring budget 2017: drop in government borrowing predicted

Forecasts likely to be cut by cumulative £29bn between 2015-16 and 2020-21 but sustainability issues remain, says thinktank Solid economic growth and strong tax receipts since the Brexit vote have put
UK government surplus gives Philip Hammond pre-budget boost

UK government surplus gives Philip Hammond pre-budget boost

Borrowing bill hits lowest January level in 17 years, putting chancellor in position to ease some austerity plansA boost in self-assessment tax receipts and a bumper flow of capital gains tax to the
A hard Brexit will be even harder because of Treasury failings | David Walker

A hard Brexit will be even harder because of Treasury failings | David Walker

Lord Kerslake’s damning report exposes the yawning skills gap at the heart of government – just when we need to manage BrexitWhitehall needs a strong centre more than ever, to keep the show on the
Booming gig economy costs £4bn in lost tax and benefit payouts, says TUC

Booming gig economy costs £4bn in lost tax and benefit payouts, says TUC

Study shows low-paid self-employment and zero-hours contracts costing exchequer £75m a week – a quarter of England’s weekly social care budgetThe rapid rise in insecure work in the UK is costing the