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The Latest Breaking News from Resolution Foundation

Reeves’ stealth tax hits low earners harder than ‘sensible’ income tax change, says top think tank

People earning less than £35,000 a year will pay more than if chancellor had raised basic rate by 1p, says Resolution Foundation

The Independent UK

Economists warn budget built on ‘shaky foundations’; December UK interest rate cut looks more likely – as it happened

Experts question whether back-loaded tax rises outlined in Wednesday’s budget will really happen

The Guardian - UK

Top member of Reeves’ Budget team previously backed plans to hit small businesses

Industry leaders say the government ‘would be out of its mind’ to adopt the proposals

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Tuesday briefing: Why Labour won’t press the ‘big red button’ to lift 450,000 children out of poverty

In today’s newsletter: The Labour Party recently sounded resolute in its intention to cut the two-child benefit cap. But against an ugly fiscal backdrop, the chancellor may be having second thoughts

The Guardian - UK

Rent crisis will keep breaking new records without action, Labour warned

Council spending on temporary accommodation has doubled in a decade to £2.8bn, a new report shows

The Independent UK

Reeves considers breaking manifesto pledge with income tax rise to fill £30bn gap

Exclusive: Treasury discussions include possibly adding 1p to basic rate or raising higher or additional tax rates

The Guardian - UK

Share of low-paid workers in UK hits record low while gender pay gap narrows

Data from the Office for National Statistics also showed that average earnings have risen this year.

Evening Standard

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Reeves urged to take 2p off employee NI and add it to income tax in budget

Resolution Foundation says move could raise additional £6bn a year and ‘level the playing field’ on income tax

The Guardian - UK

Tax rises in, two-child limit out: what Resolution Foundation’s boss is urging Reeves before budget

Pensions triple lock should also go, says Ruth Curtice, a former civil servant who says it’s ‘nice to be allowed to say what you think’

The Guardian - UK

British household energy debt triples in a decade – report

Close to a million electricity and a million gas customers were now behind on their bills, Resolution Foundation research suggested.

Evening Standard

UK unemployment to hit highest level since Covid, says think tank

Unemployment in the UK could soon hit the highest level seen since the Covid pandemic, according to a think tank ...

The National (Scotland)

Ministers urged to overhaul and raise carer’s allowance

Resolution Foundation says unpaid carers on low incomes pay ‘very heavy price’ for looking after loved ones

The Guardian - UK

Starmer ‘must hike taxes’ to plug £4.5bn black hole after welfare U-turn

Keir Starmer’s U-turn now leaves the government with a choice between raising taxes or cutting spending elsewhere

The Independent UK

Living standards outlook for second half of 2020s is bleak, says think tank

The 2020s could be the first decade of the modern era to witness no improvement in disposable incomes, the Resolution Foundation said.

The Independent UK

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The Guardian - UK

UK’s FTSE 100 share index hits record closing high despite economy shrinking in April – as it happened

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumped.. but FTSE 100 ends at new record close

The Guardian - UK

Our £5bn disability benefits cut will stop welfare state collapsing, says Kendall

Exclusive: Work and pensions secretary to double down on changes despite growing pressure within Labour

Evening Standard

Chancellor Reeves warned of ‘tough’ trade-offs ahead of spending review

A report from the Resolution Foundation suggests that the Government should focus spending in areas such as health and housing.

The Guardian - UK

Carmaker shares slide after Trump’s 25% tariff; British Steel proposes closing Scunthorpe blast furnaces – as it happened

Rolling coverage of the latest economic and financial news

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The Guardian - UK

Some disabled people could lose £10k a year in benefits by end of decade

Experts say planned cuts will deliver series of ‘painful income shocks’ for many

The Independent UK

Minister defending Labour’s £5bn benefits cuts admits he couldn’t live on £70 a week

Hitting back at left-wing Labour critics of the government, Torsten Bell accuses them of ‘defending a Tory system’

The Independent UK

Ethnic minority families spend more on housing but live in worse conditions, report says

The report found Arab and Black adults were ‘at the sharp end of Britain’s housing crisis’

Evening Standard

UK data chief calls for more cash to lift response rates amid faulty jobs survey

Office for National Statistics boss Sir Ian Diamond told MPs that he is ‘super hopeful’ about its work to improve the labour force survey.

Evening Standard

Who is Torsten Bell? The new pensions minister pegged as Britain's future chancellor

From being one half of Britain’s most influential political twin duo, to his role in the infamous ‘EdStone’, Emma Loffhagen reports on Torsten Bell, the former think tank director promoted to pensions minister

The Guardian - UK

Give working parents help with childcare and commuting costs, UK thinktank says

Child poverty plan must address the 70% of families with at least one parent in work, Resolution Foundation says

The Independent UK

Rachel Reeves spending review ‘set to be next big challenge’ for government as growth flatlines

Rachel Reeves has ordered a line-by-line review of spending, with departments ordered to find savings of 5 per cent of their budgets

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