Research

In September 2024, chancellor Rachel Reeves promised “there would be no return to austerity” under the new Labour government,[1] echoing a promise made in the party’s election manifesto. Using data from the Office for Budget Responsibility (OBR),[2] this briefing note explores different definitions of austerity and calculates

The public sector has expanded steadily over recent years, with headcount currently at a record high. Given that public sector workers are paid more than their private sector counterparts and receive more generous pension benefits,[1],[2] this imposes a significant burden on the public finances. Yet the growth of

The government spends approximately £22 billion a year to fund each cohort of undergraduates in England.[1] This consists of around £20 billion in tuition fee and maintenance loans, only 65 per cent of which is expected to be repaid in full,[2] as well as another £1 billion in