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In the second episode of our mini-series on how to fix the UK’s tax system, Helen is joined by Stuart Adam and Ben Zaranko to explore one of the most contentious areas of taxation - savings and wealth.

Why do people who earn through investments often pay lower taxes than those earning a salary? Why do business owners and landlords sometimes end up both undertaxed and overtaxed? And could an annual wealth tax ever work in practice?

This episode unpacks how the UK taxes savings, dividends, capital gains and inheritances, revealing the tensions at the heart of our system - and what a fair, efficient approach to taxing wealth might really look like.

Become a member: https://ifs.org.uk/individual-membership

Find out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts

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Rachel Reeves is once again facing tough choices on tax and spending. After promising no further tax rises last autumn, the Chancellor could now see a sizeable downgrade to the borrowing outlook - enough to wipe out the limited ‘headroom’ she built into her fiscal plans last spring. To stick to her ‘iron-clad’ rules, Reeves may now need a sizeable fiscal consolidation through tax rises, spending cuts, or both.

Helen talks to IFS economists Carl Emmerson and Ben Zaranko about why we’re back here again, what’s really driving the UK’s fiscal challenges, and what options the Chancellor has to get the public finances back on track. They discuss whether Reeves can stick to her fiscal rules, what role productivity and growth forecasts play, and how the government could avoid fiscal 'ground hog' day again.

🎟️ Plus, we share details of our upcoming live recording at the British Library on 4th November, part of the ESRC Festival of Social Science.

This episode is part of the 2025 Green Budget, our annual report exploring the Chancellor’s options.

📘 Read more: https://ifs.org.uk/publications/green-budget-2025-full-report

🎫 Sign up for our live podcast: https://ifs.org.uk/events/ifs-zooms-live-how-could-chancellor-raise-more-tax

💡 Become a member: https://ifs.org.uk/individual-membership

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The two-child limit stops most families on Universal Credit from claiming support for a third or later child — worth about £3,500 a year per child. Introduced in 2017, it’s now at the centre of a political debate, with the Chancellor under pressure to scrap or reform it in the November Budget.

Helen talks to IFS economists Tom Waters and Christine Farquharson about why the policy was introduced, how it’s affected families and child poverty, and what the options are for changing or removing it.

🎟️ Plus, we share details of our upcoming live recording at the British Library on 4th November, part of the ESRC Festival of Social Science. Sign up here: https://ifs.org.uk/events/ifs-zooms-live-how-could-chancellor-raise-more-tax

Become a member: https://ifs.org.uk/individual-membership

Find out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts

Hosted on Acast. See acast.com/privacy for more information.