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IFS Zooms In: The Economy
Childcare during the pandemic
The closures of childcare providers to most families during the COVID-19 crisis have underlined the importance of access to childcare, both to support paid work and to help shape young children’s environment. However, the crisis has had severe consequences for the finances of childcare providers, which were already weak in several parts of the sector going into the crisis. Despite a range of government support programmes, many providers lost income during lockdown. In the medium term, a longer-lasting fall in demand for childcare or an increase in costs related to social distancing could seriously hamper financial sustainability in the sector going forward. This week, we speak with Christine Farquharson, Senior Research Economist at IFS and Claire Crawford, Assistant Professor of Economics at the University of Birmingham and IFS Research Fellow.
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26. How can government reduce child poverty?
33:42||Season 5, Ep. 26Sign up to our live event: https://ifs.org.uk/events/ifs-zooms-live-how-make-your-first-budget-successCurrently, around 4.3 million children - that’s around 30% of all kids - are living in relative poverty. Since 2010 that figure has risen by over 700,000 and the new government has made tackling child poverty one of its key policy objectives, with a cross-government strategy due to be published in 2025. In today’s episode, we’ll explore the factors contributing to this increase in child poverty, including changes to the benefits system, housing challenges, and the broader economic context. We’ll look at the long-run impacts that child poverty has and examine the potential policy options available to reduce child poverty.To do that, Carl is joined by Tom Waters and Christine Farquharson.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts25. Are people saving enough into their pensions?
39:28||Season 5, Ep. 25Sign up for our live podcast event: https://ifs.org.uk/events/ifs-zooms-live-how-make-your-first-budget-successSince the introduction of auto-enrolment over 10 years ago, more people than ever are saving into a workplace pension than ever before. However, new research from the IFS shows that approximately 30% to 40% of private sector employees (5 to 7 million people) saving in defined contribution pension schemes are on course to have individual incomes that fall short of standard benchmarks in retirement.What changes should government make to the auto-enrolment policy? How much do people need to save? What about self-employed people?To answer these questions, Paul is joined by Jonathan Cribb and Carl Emmerson from the IFS.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts24. The big challenges facing the benefits system
43:04||Season 5, Ep. 24We’re looking at the benefits system and answering the questions likely being asked by government ministers: how can the rising costs of benefits be managed, and what changes could improve the system?With disability and incapacity benefit caseloads rising and the Universal Credit rollout still ongoing, what options does the government have to address these challenges? How might frozen housing support and past cuts to working-age benefits be impacting the most vulnerable? Should the government abolish the two-child limit?To tackle these questions, Paul is joined by Tom Waters and Carl Emmerson from the IFS.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts23. How could the Chancellor raise more tax?
42:40||Season 5, Ep. 23Over the summer we’re bringing you a series of briefings on the key challenges and policy options facing the new set of government ministers. Today we’re turning to the tax system and we’ll answer the questions that the Chancellor has almost certainly been asking Treasury officials in recent weeks: how could more tax revenue be raised and how could tax reform boost growth.Rachel Reeves has ruled out tax rises on 'working people', saying that there will be no increase of income tax, VAT, National Insurance or Corporation Tax. What areas of tax does this leave to fill the shortfall in the public finances? Which taxes could be reformed to boost growth?To tackle those questions, Paul is joined by Dan Neidle a tax lawyer and founder of Tax Policy Associates and Helen Miller, Deputy Director at the IFS.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts22. Why are universities in financial trouble?
41:46||Season 5, Ep. 22Over the coming weeks, we’re bringing you a series of briefings looking at key areas of government and analysing their performance over recent years, the challenges they face and the solutions the new government may look to help them.This week, we’ll be looking at higher and further education. Over recent months, we’ve heard lots of stories about the pressures on university finances, and concern that some universities may go bust. We’ll discuss why this is, what happens if a university goes bust and whether government can do anything to fix the problem. We’ll also discuss longer-term challenges facing the higher and further education sectors.We're joined by Jack Britton and Christine Farquharson, IFS education experts.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts21. Can the new government fix the NHS?
41:45||Season 5, Ep. 21Over the next few weeks, we’re bringing you a series of briefings looking at key areas of government and analysing how they have performed over recent years, what challenges they face and which solutions are on the table.This week we'll start with the NHS - the UK's biggest public service. We're joined by Ben Zaranko and Max Warner, IFS experts, to discuss the big challenges facing the NHS, and what Labour will do about them.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts20. Is Labour's inheritance really worse than expected?
37:06||Season 5, Ep. 20On Monday, the new Chancellor, Rachel Reeves, stood up in front of Parliament and spoke about, what was in her view, the challenging economic inheritance left to Labour by the previous Conservative government. She revealed a series of unfunded commitments by the previous government - a multibillion-pound gap in the public finances covering areas such as spending on asylum seekers and unfunded infrastructure projects. So, what do we make of the announcements? What are the implications of the spending cuts announced? What does this statement tell us about how the Chancellor will handle economic challenges?To answer these questions, we’re joined by Christine Farquharson and Ben Zaranko.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts19. What is Labour's economic strategy?
39:45||Season 5, Ep. 19In the King's Speech last week, Labour announced 40 new bills covering areas from planning and green energy, to fiscal locks and a national wealth fund.What can these bills tell us about Labour's economic strategy? We speak with IFS economists, Christine Farquharson and Ben Zaranko.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts18. ELECTION SPECIAL: Your questions answered
40:22||Season 5, Ep. 18In the final run up to the election, we answer your questions about everything from borrowing to growth and from AI to the part that luck plays in the economy.Become a member: https://ifs.org.uk/individual-membershipFind out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts