That the Parliament welcomes the publication of the Institute for Fiscal Studies’ (IFS) report, IFS Green Budget 2025, which urges the UK Government to pursue a principled and comprehensive reform of the tax system rather than what the report describes as “half-baked fixes” or "piecemeal changes"; notes that the IFS highlights what it sees as the opportunity to make taxation fairer, simpler and more growth-friendly by aligning tax rates across different forms of income and updating outdated property taxes such as council tax, which is still based on 1991 property valuations; further notes the IFS’s assessment that current tax arrangements, including council tax, are “regressive” and in need of modernisation; considers that options, such as expanding the reach of both capital gains and inheritance tax, should be taken forward; acknowledges what it sees as the importance of a stable, transparent and equitable tax framework in supporting public services while encouraging sustainable economic growth, and calls on the UK Government to engage constructively with the devolved administrations to ensure that any future reforms reflect the needs of all people and businesses.