Immigration is one of the most debated issues in British politics. But what impact does it actually have on the economy and the public finances?

We speak to Madeleine Sumption, Director of the Migration Observatory at the University of Oxford and Interim Chair of the Migration Advisory Committee, and IFS economist Max Warner about how migration to the UK has changed, and what that means for the government’s finances.

Which types of migrants contribute most to the public finances, and which cost the government more? How does immigration affect the wider economy? And with net migration falling sharply, what could lower migration mean for the OBR’s forecasts - and the choices facing the Chancellor at the Budget?

Madeleine’s new book, What Is Immigration Policy For?, is available from Bristol University Press.

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Land value tax has long been popular with economists. Unlike most taxes, it doesn’t discourage people from working, investing or building - and in theory it can raise money without distorting economic decisions. So why don’t we use it more?

In this episode, Helen is joined by Stuart Adam and Ben Zaranko to explain how a land value tax would work, who would gain and lose from introducing one, and why its effects can be very different for existing landowners and future buyers.

We also look at some of the big practical and political questions. Can land really be valued accurately? Would the tax be fair? Could it replace council tax, stamp duty or other taxes? And should governments capture more of the increase in land values created by new infrastructure or planning permission?

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Business rates have long been blamed for the decline of Britain’s high streets. Shops and pubs face large bills, while online retailers can operate from cheaper out-of-town warehouses. So surely cutting business rates would help?

Not necessarily. Helen Miller is joined by IFS tax expert Stuart Adam and Observer economics editor Ben Zaranko to explain why business rates are widely misunderstood. They discuss who really bears the cost of the tax, why cutting rates could simply lead to higher rents, whether pubs and high streets deserve special treatment, and how a growing patchwork of reliefs and exemptions has made the system increasingly complicated.

They also ask what is actually wrong with business rates - and why taxing land rather than the buildings sitting on it might offer a better solution.

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More young people than ever are going to university, but the financial stakes have also risen. Many graduates begin their careers with around £50,000 of student debt and could make repayments for up to 40 years. While some degrees deliver substantial lifetime earnings gains, others may leave graduates financially worse off than if they had not attended university.

Helen Miller is joined by IFS economists Christine Farquharson and Kate Ogden to examine what the evidence tells us about the financial returns to higher education.

They discuss why graduate outcomes vary so widely across subjects, institutions and students; whether low-earning courses provide value to taxpayers; and whether government should restrict funding for degrees with poor financial outcomes.

They also consider how artificial intelligence and wider labour-market disruption could affect today’s students, and whether historic earnings data can reliably guide decisions about careers that may last into the 2070s.

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The government has launched a new Pensions Commission, raising the prospect of significant changes to how people save for retirement.

Are people currently saving enough? Should minimum workplace pension contributions rise? And what should the government do about low pension saving among the self-employed?

Christine Farquharson is joined by IFS researchers Jonathan Cribb and Heidi Karjalainen to examine what future pensioners can expect. They discuss what counts as an adequate retirement income, how housing and inheritances affect people’s needs, and why the right policy may differ across generations.

They also explore whether people should be encouraged to save more at particular stages of their working lives, and whether policymakers should be concerned about people drawing on their pension wealth before reaching state pension age.

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Andy Burnham is preparing to enter Downing Street, but he will inherit a government facing tight fiscal constraints and a series of difficult decisions.

The public finances remain under pressure, debt interest spending is high, and commitments not to raise the main rates of income tax, National Insurance or VAT limit some of the most obvious ways of raising revenue. At the same time, the new Prime Minister will need to make choices about departmental spending, defence, welfare, social care and the cost of living.

How much flexibility will Burnham have over taxes, borrowing and public spending? Which commitments could be maintained, and which might need to be scaled back? And will a change of Prime Minister create space for a different economic strategy - or reveal the same underlying constraints?

Christine Farquharson is joined by IFS colleagues Max Warner and Tom Waters to examine the economic choices facing the incoming Prime Minister.

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Over the past few weeks, devolution has moved back to the centre of British politics. Andy Burnham has made the case for a “rewired Britain”: shifting power away from Westminster and Whitehall, creating a new “No 10 North” in Manchester, and giving local leaders a much bigger role in shaping economic policy.

But what does devolution actually mean? Who would power be devolved to? What responsibilities could local leaders take on? How would they be funded? And could devolution really help the UK economy grow?

Christine Farquharson is joined by Tony Travers, Professor in Practice in the LSE Department of Government, Associate Dean of the LSE School of Public Policy and Director of LSE London, and David Phillips, Associate Director at the IFS, to discuss what devolution means, how England compares internationally, whether “Manchesterism” offers lessons for the rest of the country, and what risks come with giving places more fiscal responsibility.

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What makes a job “good”? Is it pay, flexibility, progression, security, purpose, autonomy, or the people you work with?

Policy debates about inequality often focus on wages and getting people into work. But jobs are about much more than income. The quality of work affects people’s health, wellbeing, productivity, family life and future opportunities.

In this episode, Helen Miller is joined by Jonathan Cribb and Naomi Clayton, Chief Executive of the Institute for Employment Studies, to explore what good work really means, who gets access to good jobs, and what government can do to improve the quality of work in the UK.

They discuss inequalities in pay, gender and geography, the importance of progression and training, the rise of flexible and insecure work, the role of employment rights, and how trends such as AI could shape the future of jobs.

This is the fourth and final episode in our series on inequality.

This episode draws on work done as part of the IFS-Deaton Review, funded by the Nuffield Foundation.

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The UK is one of the most geographically unequal countries in the developed world. People living in London and the South East tend to have higher incomes, higher levels of education and better health outcomes than people elsewhere in the country.

But why did Britain become so regionally unequal? How much of the divide is driven by the shift away from industry and towards services? What role has public investment, infrastructure and decades of regional policy played? And what can policymakers realistically do to change things?

In this episode, part of our mini-series on inequalities, we look at the scale of the UK’s regional divides, why London has become so dominant, and whether stronger cities, devolution, better coordination and more stable policy could help narrow the gap.

Helen speaks with IFS economists Jonathan Cribb and Xiaowei Xu to ask what “levelling up” should mean in practice, whether improving opportunities outside London could boost national productivity, and how politicians should think about places that may not benefit directly from big-city growth.

This episode draws on work done as part of the IFS-Deaton Review, funded by the Nuffield Foundation.

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Around 80% of people think the gap between those on high and low incomes is too big. But only around 40% think the government should redistribute income from the rich to the poor.

Why is there such a gap between concern about inequality and support for action to reduce it?

In the second episode of our mini-series on inequality, we ask why people care about inequality, whether they distinguish it from poverty, and how views about luck, hard work, wealth and power shape attitudes to policy.

Helen Miller is joined by Jonathan Cribb, Deputy Director at IFS, and Bobby Duffy, Professor of Public Policy and Director of the Policy Institute at King’s College London. They draw on work for the IFS Deaton Review of Inequalities, funded by the Nuffield Foundation, to explore what the British public thinks about inequality, what kinds of inequality worry people most, and what they want government to do about it.

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