Carl Emmerson
Carl Emmerson Life story
Carl is Deputy Director of the IFS and an editor of the annual IFS Green Budget. He is also Acting Vice Chair of the Social Security Advisory Committee and a member of the advisory panel of the Office for Budget Responsibility.
Why is the UK economy lagging behind the US, Germany and others?
... " The EU is a very rich part of the world, " says Carl Emmerson, deputy director of the Institute for Fiscal Studies, an independent think tank...
Tax cut 'gamble' will make debt unsustainable, says IFS
... Carl Emmerson, deputy director at the IFS and an author of the research, said the government s tax cutting plans meant borrowing would remain high, even after the cost of subsidising energy bills had fallen away, adding to overall debt...
Tory leadership: Do rivals tax pledges add up?
... Carl Emmerson, deputy director of the IFS, said cuts to personal taxes such as NI " certainly won t be paying for themselves"...
Energy bills: Government likely to face pressure to continue support, IFS says
... Although the support was broadly welcomed and described as a " genuinely big package" by the IFS, a think tank, its deputy director Carl Emmerson said: " If oil and gas prices remain high then the government will doubtless come under pressure to continue the additional household support for at least a further year...
Chancellor must do more to help poorest households, charity says
... " Carl Emmerson, the deputy director of the Institute for Fiscal Studies think-tank told the BBC s Today programme that cutting fuel duty would provide targeted help for individuals and businesses who buy a lot of motor fuel...
Tax cut 'gamble' will make debt unsustainable, says IFS
Tax cuts, due to be announced on Friday, are likely to push UK borrowing and debt to unsustainable levels, a leading economic Think Tank has warned.
The UK will spend billions helping households and firms with energy bills, but tax cuts will have a longer-term impact on public finances, The Institute for Fiscal Studies said.
Even after that support ends, the UK will borrow £100bn a year, it says.
Tax cuts amounted to a " gamble" that may not pay off, the IFS warned.
In Friday's mini-budget the government is expected to reverse a rise in National Insurance and scrap a planned increase in corporation tax, which could cost £30bn.
The Treasury has refused to publish
The IFS said it was publishing its own research, setting out " how much red ink" would be added to the country's financial position as a result of the strategy led by new Prime Minister Liz Truss .
Carl Emmerson , deputy director at the IFS and an author of the research, said the government's tax cutting plans meant borrowing would remain high, even after the cost of subsidising energy bills had fallen away, adding to overall debt.
" While we would get to enjoy lower taxes now, ever-increasing debt would eventually prove unsustainable, " Mr Emmerson said.
" The government is choosing to ramp up borrowing just as it becomes more expensive to do so, in a gamble on growth that may not pay off. "
Boost growthThe new Prime Minister has outlined her plans for the economy, arguing that cutting taxes will " boost business-led growth and investment".
The pace of growth that would be required to keep national debt at sustainable levels was not impossible but would require " a great deal of luck over a long period or a concerted change in policy direction, " Mr Emmerson said.
The government has said it wants the economy to grow by 2. 5% a year on average.
The IFS said finding a way to boost the UK's rate of Economic Growth would " undoubtedly help" but said the government should not underestimate the scale of that challenge.
Higher borrowingBorrowing of nearly £100bn a year is significantly higher than previously forecast. In March, borrowing was predicted to be £50bn next year and well below £40bn by the mid-2020s.
The £100bn figure is equivalent to around 3. 5% of national income, which is high in historical terms. In the 60 years before the financial crisis, borrowing averaged 1. 9% of national income, the IFS said. The fluctuating wholesale price of energy means the cost of government subsidies for households, public bodies and private firms, is hard to estimate.
However the Think Tank calculates the planned tax cuts would leave government revenues around £30bn lower than they would have been.
Source of news: bbc.com
Carl Emmerson Photos
