IFS Urges UK Chancellor to Overhaul Tax System in November Budget
The Institute for Fiscal Studies has called on Chancellor Rachel Reeves to use the upcoming November budget as an opportunity for sweeping tax reforms. The London-based think tank argues structural changes—rather than rate hikes—could raise the needed £30 billion without stifling economic growth.
"This isn't about tinkering at the edges," said IFS senior economist Isaac Delestre. The November budget represents a rare chance to build a more rational tax framework from first principles.
The challenge remains substantial. Reeves and Prime Minister Keir Starmer have pledged no increases to income tax, VAT, corporate taxes, or national insurance—cornerstones of UK revenue collection. Last year's employer NICs hike demonstrated the political risks of conventional approaches.
