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The Latest Breaking News from Resolution Foundation

Chancellor seeks to calm markets amid jitters after Budget borrowing spree

The Budget increased state spending by almost £70 billion per year funded by increased taxes and borrowing.

Evening Standard

Reeves admits NI hike could hit pay rises while markets react to borrowing spree

Chancellor Rachel Reeves insisted she had no alternative but to raise taxes in her first Budget.

Evening Standard

Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF

Rare intervention comes as Resolution Foundation says UK will remain ‘stagnation nation’ despite push to invest

The Guardian - UK

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Post-budget sell-off of government bonds by worried City traders intensifies, pushing up UK borrowing costs – as it happened

Institute for Fiscal Studies says increasing borrowing to fund investment ‘right thing to do’

The Guardian - UK

Minimum wage to rise 6.7% as Chancellor plots path to ‘genuine living wage’

Wages will rise for 3.5 million workers, but the Low Pay Commission warned businesses were beginning to struggle with large increases.

Evening Standard

Staggering cost of Britain’s Brexit divorce revealed – and there’s billions more to pay EU

Exclusive: Starmer urged to reverse the damage done by Brexit by pursuing closer ties with Europe after vast costs of leaving bloc revealed

The Independent UK

Starmer has already ruled out biggest benefit to UK from his EU reset, think tank warns

PM has repeatedly talked up his push to rebuild ties with the bloc after years of acrimony under successive Tory governments

The Independent UK

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Starmer urged to help households as energy bills rise by £149 a year

Resolution Foundation research shows 7.7m households likely to struggle to heat homes this winter

The Guardian - UK

Warning over rise in children on disability benefits in England and Wales

Resolution Foundation points to growth in claims for conditions such as autism and says adulthood brings financial cliff edge

The Guardian - UK

Rachel Reeves could raise £10bn in wealth taxes, Resolution Foundation says

The chancellor could find the cash to fund Labour’s plans for power, including inflation-busting pay hikes for public sector workers, by levying taxes on unearned wealth

The Independent UK

Wealth taxes could raise £10bn to help plug Tory budget hole, say economists

Reforms to inheritance and capital gains taxes could reduce £20bn shortfall and combat UK’s widening wealth gap

The Guardian - UK

Labour told it will need to defeat ‘net-zero nimbys’ to decarbonise Britain

Opposition in wealthier areas is likely and overcoming it is essential, says Resolution Foundation

The Guardian - UK

Low wages under Tories have pushed 900,000 UK children into poverty, report finds

TUC says party has overseen ‘huge rise’ in poverty, as Resolution Foundation says average wages just £16 a week higher in real terms than in 2010

The Guardian - UK

Britain’s welfare bill to soar by £60bn over next four years as parties commit more money for pensioners

Pension commitments and a sickly population mean that by 2029 Britain’s welfare bill will be increasing by £20bn a year, analysis by Resolution Foundation predicts

The Independent UK

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The Guardian - UK

UK growth since 2010 has been lacklustre and largely driven by immigration, says report

Resolution Foundation report suggests parties are dodging the economic challenges facing the country

The Guardian - UK

UK faces £33bn hole in finances or return to austerity, thinktank says

Labour and the Conservatives want to reduce national debt, but Resolution Foundation says promises ‘detached from reality’

The Independent UK

Biggest inflation shock in decades has turned UK into nation of savers – report

Big changes in overall prices remain with us, even though inflation is easing, the Resolution Foundation said.

The Guardian - UK

High interest rates could add billions to UK green energy transition, says report

Resolution Foundation calls for fourfold increase in renewable power investment to reduce pressure on household bills

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The Guardian - UK

Longest sustained rise in people too sick to work since 1990s, says thinktank

Resolution Foundation points to legacy of Covid as it warns that near-record 2.7m people are too ill to work

The Guardian - UK

UK to have first parliament in modern history with fall in living standards, says thinktank

Household incomes on course to fall despite national insurance cuts in budget, says Resolution Foundation

The Guardian - UK

UK ‘fiscally offside’ by up to £60bn, Citi fears; house prices rise again – as it happened

Rolling coverage of the latest economic and financial news, as economist warns OBR productivity forecasts are much too optimistic

The Guardian - UK

People in 20s more likely to be out of work because of poor mental health than those in early 40s

Resolution Foundation report calls for action as number of young people experiencing poor mental health increases

The Guardian - UK

Labour ‘must spend billions on welfare or poverty will soar’

Britain’s benefits system needs urgent reform, at a cost of £12bn, charities and experts warn

GoodToKnow

Working from home keeps mothers in employment, according to research - so why do so many companies want to return to the office?

Working from home narrows the motherhood gap in employment, but 90% of companies want to return to the office

The Guardian - UK

The Guardian view on a dismal inheritance: the UK does not need another bout of austerity

Editorial: Fixing a broken economy with service-led growth and increases in public investment as well as welfare spending should be seriously considered

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