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The Latest Breaking News from Resolution Foundation

Seven reasons to be fearful of your softly-spoken new Chancellor Jeremy Hunt

Jeremy Hunt is an emollient, centre-right Tory - but it doesn't make the message he's delivering any sweeter. We look at why you should brace for austerity, high energy bills, and uncertainty over benefit and state pension rates

Daily Mirror

Austerity cuts could be as deep as 2010, experts warn as energy bills set to hit £5,000

Chancellor Jeremy Hunt leading push for ‘austerity season two’, says Labour

The Independent UK

EU proposes joint gas buying and curbs on energy price spikes – business live

European Commission proposes mechanism to cap “excessive and volatile” gas price moves, and to let member countries start jointly buying gas

The Guardian - UK

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Liz Truss U-turn will send taxes to highest levels since 1950s

But economists warn more pain yet to come with spending cuts

The Independent UK

Why was most of mini-budget scrapped and what happens next?

We look at the reasons why Jeremy Hunt is taking action and the economic consequences

The Guardian - UK

Lame duck Liz Truss hides behind Penny Mordaunt as she refuses to face questions

Keir Starmer said 'the lady's not for turning up!' as Liz Truss went missing, then turned up for a bizarre silent 29 minutes. Penny Mordaunt was forced to insist 'the Prime Minister is not under a desk'

Daily Mirror

Universal Credit warning as DWP told families could lose up to £1,000 a year

The government is due to make an announcement on benefit upratings at the end of the month

Manchester Evening News

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London mortgage bills may ‘rise by £8,000 a year’, warns think-tank

By early 2025, half of all mortgaged households, or 3.8 million, will see higher mortgage costs absorb at least five per cent of their net household income, the Resolution Foundation said

Evening Standard

Britain on course for staggering £26bn mortgage hike, think tank predicts

The forecast predicts that by the end of 2024 nearly a fifth of all British households will be spending more on their housing costs

Wales Online

Five million UK families ‘face mortgage rising by £5,100 a year by end of 2024’

Increase adds up to a £26bn rise for homeowners, says Resolution Foundation thinktank

The Guardian - UK

Five million households face mortgage bills rising by thousands by end of 2024, experts warn

‘The living standards pain from rising interest rates will be widespread,’ says analyst

The Independent UK

Britain is on track for a £26bn mortgage hike, think tank predicts

The think tank said over five million households are set to see their annual mortgage payments rise by an average of £5,100 between now and 2024.

The Independent UK

Cutting benefits uprating could save UK Government £3bn but hit low income families with children hardest

The Resolution Foundation warns that three million households could lose more than £500 next year.

Daily Record

Poorer families risk £1,000 hit from earnings-related benefits rise

Below-inflation rise would save exchequer tenth of £40bn to be given out through tax cuts, says thinktank

The Guardian - UK

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The Independent UK

Families with children ‘to be hit hardest if benefits are uprated by earnings’

Nine million households containing 30 million people will be affected if benefits rise in line with earnings, according to the Resolution Foundation.

Daily Mirror

Benefits will hit lowest level in 40 YEARS if Liz Truss's cut goes ahead

The Resolution Foundation said real-terms benefits could be at their lowest level since the early 1980s - as ex-Chancellor Sajid Javid said a cut wouldn't be 'social justice'

Daily Mirror

Dithering Truss leaves families in benefit limbo as Kwarteng may need to cut £60BILLION

Lib Dem Wendy Chamberlain warned the failure of Prime Minister Liz Truss to make a decision on benefits meant "millions of people are left in a grim limbo" across Britain

The Guardian - UK

A cut to benefits would batter millions of households – even Tory MPs can’t stomach it

Liz Truss’s threats of a real-terms cut would ramp up inequality and hamper her beloved growth, says Lalitha Try, a researcher at the Resolution Foundation

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The Guardian - UK

Tory MPs plot to avert benefit squeeze after humiliating U-turns

Kwasi Kwarteng to bring forward fiscal statement to later this month amid disquiet in party over spending cuts hitting poorest

The Independent UK

‘Massive spending cuts will still be needed’ despite Chancellor’s U-turn

Think tank experts said the Government’s mini-budget plans will still leave the UK’s public finances on an unsustainable path.

Daily Mirror

Solemn 'no cuts' promise Liz Truss made 3 months ago - that she's now set to break

This morning Chancellor Kwasi Kwarteng refused to rule out a return to Tory austerity after a humiliating tax U-turn - but in July Liz Truss unequivocally told The Mirror that her plans would not involve slashing services

Daily Mirror

Iceland boss wants Universal Credit to rise £20 a week to help struggling Brits

Richard Walker told a fringe discussion at the Conservative Party Conference in Birmingham that Kwasi Kwarteng's mini-budget did not do enough to help those on low incomes, and called for the £20 Universal Credit uplift to be reinstated

The Independent UK

Government may consider benefits cut to help fund tax breaks for rich, economists warn

Huge ‘unforced error’ set to push Britain back to George Osborne-era cuts, says think tank

The National (Scotland)

Liz Truss's Tories plot return to austerity with 'no mandate whatsoever'

LIZ Truss has been told she has “no mandate whatsoever” to impose a new wave of austerity in order to fund her sweeping tax cuts for the rich.

Daily Mirror

Liz Truss faces mutiny from Tory MPs after plans to snatch £1,000 from hard-up families

Tories yesterday said it would be 'untenable' and 'unconscionable' for ministers to go back on a promise to increase benefit payments in line with inflation next year

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