In a surprise announcement sending shockwaves through the world of UK economics and politics, Paul Johnson, the highly influential director of the Institute for Fiscal Studies (IFS), revealed he will be stepping down from his position in the summer of 2025. Johnson, who has been at the helm of Britain’s leading economics thinktank for over 14 years, is set to take on a new role as the provost of Queen’s College, Oxford.
As one of the most authoritative voices on tax and spending policy in the UK, Johnson’s departure marks the end of an era. Under his leadership, the IFS has played a pivotal role in shaping economic discourse and policy decisions, with successive Chancellors and MPs from across the political spectrum seeking the thinktank’s insights and analysis.
A Voice of Authority in Westminster
Over the years, Johnson has become a household name in British politics, known for his incisive commentary on government budgets, tax reforms, and public spending plans. His critiques and recommendations have often set the tone for political debates on the economy.
As a close source noted, “Paul’s departure will leave a significant void. He has been the go-to expert for impartial, rigorous analysis of economic policy for over a decade. His shoes will be incredibly difficult to fill.”
Shaping the Economic Narrative
Johnson’s influence has been particularly evident in recent years, as the UK navigated the economic fallout of Brexit and the COVID-19 pandemic. His assessments of government support packages, tax policies, and spending plans have often dominated headlines and shaped public opinion.
In the lead-up to the 2024 general election, Johnson warned of a “conspiracy of silence” from both the Conservatives and Labour on the challenges facing the public finances. His call for an honest reckoning of the tough choices ahead resonated with voters and pundits alike.
A Bittersweet Farewell
Reflecting on his decision to step down, Johnson said it was a “bittersweet moment.” Having joined the IFS as a fresh graduate in 1988, he has spent the better part of his career at the thinktank, leaving briefly in 1998 before returning as director in 2011.
“The IFS has been an incredibly important part of my life. I love it, what it does, and what it stands for, and all my amazing colleagues. But after 14 years at the helm, it feels like the right time to move on and start a new chapter in my life.”
Johnson expressed excitement about his upcoming role at Queen’s College, Oxford, where he will have the opportunity to work with “a new set of colleagues and brilliant young people.” His appointment is a testament to his standing in the academic and policy worlds.
A Legacy of Impact
As Johnson prepares to pass the baton, his legacy at the IFS is secure. Under his stewardship, the thinktank has cemented its reputation as a bastion of impartial, evidence-based analysis, shaping policy debates and holding governments to account.
“We will be very sad to see him go, but he leaves us in robust good health. Paul’s legacy will endure, I have every confidence that our research and professional services staff will continue to produce an impressive quantity of policy-relevant research of outstanding quality.”
– Harry Gaskell, Chair of the IFS Board of Trustees
As the search for Johnson’s successor begins, one thing is certain: the next director of the IFS will have big shoes to fill. Johnson’s departure marks the end of an era, but his impact on UK economic policymaking will be felt for years to come.
