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The Latest Breaking News from IFS

Budget 2024: Jeremy Hunt considers new vaping tax and NI cut

Levy on vapes could make them unaffordable for children, as IFS warns over unfunded tax cuts

The Guardian - UK

Jeremy Hunt warned not to spook markets with unfunded budget tax cuts; US consumer confidence drops – as it happened

Rolling coverage of the latest economic and financial news, as ING warn the pound could fall by 2% if chancellor misreads the mood of bond investors

The Guardian - UK

Jeremy Hunt’s ‘dubious’ financial planning lacks credibility, says IFS

Chancellor should resist temptation to announce unfunded tax cuts in March budget, advises leading thinktank

The Guardian - UK

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Tripura govt suspends IFS officer after row over naming lion, lioness 'Akbar' and 'Sita'

The Tripura government has suspended IFS officer Pravin L. Agrawal following the row over naming a lion and lioness ‘Akbar’ and ‘Sita’

The Hindu

Intel goes after TSMC's foundry market share by branching into Arm chips and focusing on U.S. manufacturing

In an interview with Intel Foundry Services Head Stu Pann, Intel's foundry plans to expand to build Arm chips and fill holes in the market.

Windows Central

Uttarakhand HC's Justice Manoj Tiwari recuses self from hearing IFS officer Sanjiv Chaturvedi's case

Justice Manoj Tiwari, Judge of Uttarakhand High Court has recused himself from hearing the case of Uttarakhand cadre IFS officer Sanjiv Chaturvedi. Read further on Dynamite News:

Dynamite News

Former diplomat Sanjay Verma appointed UPSC member

Former diplomat Sanjay Verma has been appointed as a member of the Union Public Service Commission, according to a Personnel Ministry statement issued on Thursday. Read further on Dynamite News:

Dynamite News

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OpenAI CEO Sam Altman will be at Intel's next foundry event — and he's currently looking for chip partners

OpenAI's Sam Altman will talk about the importance of advanced chips for AI workloads at Intel's upcoming Direct Connect event in Feb.

Tom’s Hardware

Wales has been brave enough to completely rethink the hated council tax. Take note, England

The Senedd’s plan to shift the burden of this levy away from those on lower incomes shows how real levelling up can work, says the Guardian columnist Polly Toynbee

The Guardian - UK

Intel Teams Up with UMC for 12nm Fab Node at IFS

Intel and UMC on Thursday said they had entered into an agreement to jointly to develop a 12 nm photolithography process for high-growth markets such as mobile, communication infrastructure, and networking. Under the terms of the deal, the two companies will co-design a 12 nm-class foundry node that Intel Foundry…

AnandTech

ECB chief says talk of interest rate cuts ‘premature;’ US economy grows faster than expected – as it happened

European Central Bank president Christine Lagarde holds press conference after bank keeps interest rates unchanged as expected

The Guardian - UK

Labour and Tories need to be honest about economic trade-offs, says IFS

Thinktank calls on parties to ‘level’ with voters about difficult tax and spending decisions before next election

The Guardian - UK

New urban forestry director takes over

IFS officer S.V. Pradeep Kumar took charge as director of Urban Forestry Wing of Hyderabad Metropolitan Development Authority

The Hindu

Government to lose money on all student loans – even those repaid in full

The increased cost of borrowing has left the government with an £11bn annual shortfall, according to the IFS

The Guardian - UK

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The Independent UK

Jeremy Hunt unsure if government can afford more tax cuts

‘I don’t yet know if I can’, says chancellor when asked about pre-election tax giveaway talked up by PM

The Independent UK

Rishi Sunak tax cuts won’t ease burden, economists warn, as national insurance rate drops

The Institute for Fiscal Studies says personal taxes are rising despite much-hyped Tory tax cuts

Evening Standard

Labour tax cuts would threaten another 'period of austerity' for public services, warns IFS

Sir Keir Starmer and shadow Chancellor Rachel Reeves are reported to be considering tax cuts in Labour’s election manifesto, possibly to income tax

AnandTech

Intel Reiterates: We Are Not Going to Spin Off IFS

When Intel struggled with its 10nm process technology a few years ago, some investors suggested that the company would be better-off spinning its chip production into an independent foundry, leaving the core of the company to focus on chip design instead. Bucking these calls, however, Intel opted to keep chipmaking…

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news in one place.

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The Guardian - UK

Spending on university students in England ‘back to 2011 low point’, says IFS

Government’s underestimation of inflation has eroded teaching resources, according to thinktank

AnandTech

TSMC Solidifies Leadership on Foundry Market as Intel Jumps into Top 10

The global foundry industry witnessed a substantial rise in demand in the third quarter of 2023, according to TrendForce. The Top 10 foundries collectively saw their revenue soar to about $28.29 billion, marking a 7.9% increase compared to the previous quarter. Taiwan Semiconductor Manufacturing Co. (TSMC) maintained its No. 1…

The Independent UK

Hunt’s tax cuts mean interest rates won’t drop until summer 2024, economists warn

National insurance cut risks Bank of England being more ‘hawkish’ in battle against inflation

The Guardian - UK

Which public services will suffer most to pay for Tory tax cuts?

Already squeezed criminal justice system, schools and local government would face painful cuts if chancellor’s sums are to add up

The Guardian - UK

Hunt’s tax cuts mean austerity ‘more painful’ than under Osborne, warns IFS

Thinktank says £20bn package of tax cuts would be mostly funded by deep reductions in public spending planned from 2025

The Independent UK

Hunt budget means spending cuts will be even more painful than austerity era, top economists warn

Public sector cuts will be ‘more painful’ than under Cameron and Osborne, says IFS – accusing Hunt of leaving ‘mother of a headache’ for next government

Evening Standard

Jeremy Hunt's Autumn Statement still leaves hundreds of pounds shortfall for workers despite tax cuts

Number crunching shows mixed picture despite Chancellor's claims

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