Paul Johnson has just announced he is stepping down as Director of the Institute for Fiscal Studies. He’s been in post since 2011…

Johnson says “after 14 years at the helm, it feels like the right time to move on and start a new chapter in my life.” He will become Provost of Queen’s College, Oxford. The IFS says the search for his replacement will “take place over the next few months.” Plenty of tax fans circling around SW1 to choose from…

Eyebrows have long been raised about the widely-cited “independent” Institute for Fiscal Studies report into private school VAT. It has been used to “fact check” widely-held worries that Starmer’s class war on private schools will 1) funnel unsustainable numbers of children into the state system, and 2) not raise enough money. The report has for many months been the only shield for Labour politicians seeking to bat away legitimate concerns over its tax plan…

Last week it was confirmed that already 10,540 fewer students are at private schools – and that’s before Labour’s tax is even introduced. The IFS claimed 17,000-40,000 students in total would shift to the state sector. Co-conspirators might wonder why their report is so sympathetic to Labour’s policy…

As it turns out the caveat-filled report’s only author Luke Sibieta has been close mates for years with the Labour minister responsible for its implementation. Sibieta and Matthew Pennycook lived together in the noughties – Pennycook was even Sibieta’s best man at his wedding. Details of which have been meticulously scrubbed from almost everywhere on the internet…

The government has confirmed that the business rates policy change, one half of the tax raid on private schools, “will be legislated for through a Local Government Finance Bill led by the Ministry of Housing, Communities and Local Government.” Pennycook’s department…

Lobby journalists treat interventions from ‘independent’ tax-fanatics at the IFS – such as today’s new call to massively hike capital gains tax – as gospel. Maybe when hacks work out that these wonks might not be as impartial as they are so desperate to appear they will treat endlesss calls for tax increases with a little more scepticism…

Rumours are swirling of Chancellor Reeves eyeing up a raid on pension tax reliefs, aiming to tighten her grip on hardworking Britons’ wallets. Now the Institute for Fiscal Studies has called for Reeves to reduce the amount that pensioners can withdraw from their pension pots tax-free. As it stands, savers can take out 25% of their pension tax-free up to £268,275, though the tax-happy think tank says this should be reduced to £100,000. Hitting 1 in 5 hard-working retirees’ wallets…

Tax lawyer and senior Labour activist Dan Neidle slammed the idea, pointing out the tax-free lump sum has been a cornerstone of the “deal” that workers have been promised when putting their hard-earned cash into their pensions. It would be yet another policy proving high-tax Labour view the elderly vote as less important. Reeves would be wise to ignore the idea, branded “unethical” by Cut My Tax. Changing the rules half-way through the game isn’t a good look for a party that claims to be one of “integrity”…

Co-conspirators will remember the “independent” Institute for Fiscal Studies report into private school VAT. The paper was jumped on by Labour and left-wing papers to “fact check” widely-held worries that Starmer’s class war on private schools will 1) funnel unsustainable numbers of children into the state system, and 2) not raise enough money. The paper allowed Labour politicians to “disagree” with challenges from the industry in media appearances, all without scrutiny…

The caveat-filled report’s author Luke Sibieta said he expects “that the change in private school attendance levels will be small. This leads to surer increases in tax revenues and less need for additional public spending on state schools.” Where Sibieta claims the policy will raise “£1.3–1.5 billion per year in the medium to long run” because only 40,000 children will switch to the state system, the vast majority of other reports predict that the policy will actually be cost-negative before too long. Guido wonders if there is any particular reason why the report’s author would want to support the policy…

Sibieta studied at UCL, teaching at which was Francis Green, chairman of the Private Education Policy Forum – an organisation which seeks to disparage and ultimately disband private schools. They have both contributed to the IFS’ major “Inequality Review”. Two months ago Green appeared at the PEPF to chat about his Labour-supporting report. Privately-educated Green also happens to have advised Jeremy Corbyn when the VAT policy and others were first drafted in 2017. Seven years later the PEPF is drawing up plans with the Labour Party for the state to take over schools that are forced to shut due to the extra tax. No wonder that Sibieta has produced a paper in support of a policy to further that plan…

UPDATE: The IFS says: “Luke cannot recall ever having met Francis“.

According to the IFS “It’s not accurate to say that debt is falling. Public sector debt is currently rising in cash terms, real terms, and (most importantly) as a per centage of national income.” Yet today both Sunak and Hunt have claimed the debt is falling as per one of Rishi’s original five pledges. This is simply not true.

To keep debt from rising above 100% of GDP over the long-term would require a cut in annual spending of 4.4% of GDP according to the OBR. After today real-terms spending is scheduled to rise even if the Tories win the next election. The simple truth is the national debt will keep on rising unless the economy grows faster or spending is cut.

The Treasury Select Committee is set to hear ‘oral evidence’ on Kwasi’s mini-Budget this Wednesday from a panel that looks like it was dreamt up by an FBPE focus group. The Anti-Growth Coalition’s own cast of Avengers…

The Institute for (Big) Government, the Institute for Fiscal Studies and the Resolution Foundation are all sending their star performers to the show. No prizes for what Torsten Bell or Paul Johnson will have to say about a plan that actually supports tax cuts…