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The Latest Breaking News from Resolution Foundation

Britain’s economic growth to be weakest in a century outside of pandemic and WWII, think tank warns

The UK’s top two economic think tanks – the Resolution Foundation and the Institute for Fiscal Studies – have issued dire warnings over economic growth and borrowing a day after Rachel Reeves delivered her spring statement

The Independent UK

Tax burden heading to ‘uncharted territory’ with risk to growth, OBR warns

Budget responsibility committee member Professor David Miles said there was ‘clearly a risk’ in the historically high tax burden.

Evening Standard

Greater Manchester Mayor Andy Burnham declares support for Sir Keir Starmer

Mr Burnham, long seen as a potential leadership rival to the Prime Minister, also called for ‘stability’ in the Labour Party.

Evening Standard

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UK’s ‘unsung army’ of full-time unpaid carers needs more support, report says

Resolution Foundation finds one in three carers from poorer families unable to work because of responsibilities

The Guardian - UK

Labour urged to fix Universal Credit with more than 15m households to claim key benefit from April

A Department for Work and Pensions spokesperson said the Universal Credit system was being reviewed, including how claimants can be supported before their first payment

The Independent UK

Deaths set to outnumber births in the UK in 2026 ‘in new era’ that could lead to higher taxes

With birth rates falling, think tank Resolution Foundation said the UK will need to rely on immigration for population growth

The Independent UK

Young people bearing brunt of UK jobs downturn, thinktank warns

Resolution Foundation report comes in week when data is expected to show October unemployment rise

The Guardian - UK

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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

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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The Guardian - UK

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’

Evening Standard

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.

The National (Scotland)

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 ...

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The Guardian - UK

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 Independent 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 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

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