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The Latest Breaking News from Resolution Foundation

Cost of living squeeze deepens as recession looms; Felixstowe port strike dates set – as it happened

Strike action will begin on 21st August after talks failed to produce a reasonable pay offer, says Unite union

The Guardian - UK

When cost of living crisis will peak as experts say it is worse than expected

It had been hoped we would ride out the worst within the next few weeks

Wales Online

Bank of England hikes interest rates and warns UK to enter recession with inflation to pass 13% – as it happened

Interest rates rise to 1.75% – the biggest jump in 27 years – as BoE warns UK faces long recession as high gas prices hit households

The Guardian - UK

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Brits set for biggest interest rates hike in 27 years as inflation 'could hit 15%'

The Bank of England is set to raise interest rates up to 1.75%, say analysts, which would be the highest level in 27 years as the country tackles massive inflation

Daily Mirror

After Liz Truss’s pay cuts U-turn, which other Tory candidate pledges don’t add up?

Leadership rivals’ policies from Rishi Sunak’s tax cuts to foreign secretary’s spurious crime plans come under spotlight

The Guardian - UK

UK inflation could reach 15% by start of 2023, experts say

Resolution Foundation says Bank of England likely to forecast higher and later peak, on eve of interest rates decision

The Guardian - UK

Inflation to hit ‘astronomical’ 15% next year as UK households face £3,600 energy bills

Bank of England expected to hike interest rates by 0.5% to tame out of control price rises fuelled by Russia’s war in Ukraine

The Independent UK

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More financial pain to come as experts warn inflation could hit 15 per cent

Interest rates are expected to rise as the Bank of England tries to tackle spiralling inflation

Wales Online

From pay rises to bonuses - businesses 'going extra mile' to help during cost of living

A survey of 500 medium-sized businesses found many are offering financial support packages to support staff during the cost-of-living-crisis and to retain employees

Daily Mirror

Myths about generous benefits mask the truth of Tory Britain: shamefully low taxes for the rich

Until a hero like Marcus Rashford forces people to confront the reality of hungry children, misinformation and complacency about the lives of the poorest reign, says Guardian columnist Polly Toynbee

The Guardian - UK

Over one million people will borrow money from family or friends during cost of living crisis

More than a quarter of families with no savings buffer said they would be unable to cope with an unexpected bill.

Daily Record

Inflation soars to 9.1 per cent threatening savings, wages and family budgets

Experts warned that rising prices are “bad news for everyone”.

Daily Record

Wealth gap between richest 10% and middle-earners grows to record £1.2m

Gap has grown since 2008 despite relatively stable levels of inequality for decades, analysis finds

The Independent UK

Wealth gap between richest and those in middle is highest on record – think tank

Life’s milestones such as saving and getting on the property ladder are increasingly out of reach for some people, the Resolution Foundation said.

The Independent UK

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The Independent UK

‘1.3 million families facing cost-of-living crisis with no savings buffer’

The Resolution Foundation said some hope friends or family will bail them out if necessary, while others will simply be unable to cope.

Daily Mirror

One million families have no savings to fall back on as cost of living bites

The Resolution Foundation has warned a quarter of struggling households won't be able to cope due to surging energy bills - which are due to go up again this winter

Daily Mirror

Labour blasts desperate Tory leadership candidates for 'taking flamethrower' to own rules

Shadow chancellor Rachel Reeves lashed out at candidates who have made a swathe of promises, saying the public has witnessed a "Tory tombola of tax cuts, with no explanation of what public services would be cut or how they would be paid for"

The Guardian - UK

Average UK household £8,800 a year worse off than those in France or Germany

Thinktank blames inequality and poor productivity as CBI calls for investment policies to fuel growth

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The Independent UK

UK families ‘nearly £9,000 worse off than in comparable countries’

A report by the Resolution Foundation and LSE found the incomes of the poorest UK households are 40% behind counterparts in similar economies.

The Guardian - UK

Families facing income woes on a par with Greece and Cyprus? That’s ‘global Britain’

A new report shows household income growth in the UK has plummeted. This is hardly the prosperity we were promised, says Guardian columnist Polly Toynbee

The Guardian - UK

EasyJet operations chief quits; petrol hits new high; Suez Canal’s record revenues – as it happened

EasyJet’s chief operating officer Peter Bellew resigns amid growing anger over flight disruption

Manchester Evening News

The Northern Agenda: Mind the income gap

Read the Northern Agenda newsletter for Monday June 27, 2022.

Manchester Evening News

Levelling up Greater Manchester requires 'tens of billions' more than Government is planning to spend

A new report claims 'tens of billions in investment, more graduates and thousands of extra workers' were needed

Nottingham Post

Nottingham has lowest disposable income per person in UK, think tank research finds

It is four-and-a-half times lower than the richest area

The Independent UK

Levelling up needs billions more than Government offering, says think tank

The Resolution Foundation said closing the gap between London and the UK’s cities needed far more investment than the Government was contemplating.

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