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The Latest Breaking News from Resolution Foundation

Jeremy Hunt plots tax rises to fill £50 billion black hole in public finances

Resolution Foundation said the Chancellor and Prime Minister face ‘unpalatable’ choices in the Autumn Statement.

The Independent UK

Transport, police and housing could face 9 per cent cuts as Britain enters 'new era of austerity' under Rishi Sunak's plan to save £50bn

The new PM and Chancellor may choose instead for tax rises

Manchester Evening News

Police, buses, trains and housing face 9% cut in Rishi's plan to save £50billion

The new PM and Chancellor may choose instead for tax rises

Wales Online

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Sunak warned public spending freeze would return services to 2010s austerity

Due to the political ramifications of such a move, the PM may opt for more tax hikes to plug the fiscal hole, the Resolution Foundation said.

The Independent UK

DWP benefits including Universal Credit and ESA could be hit with 'permanent cut'

Chancellor Jeremy Hunt is set to unveil a Medium-Term fiscal Plan on October 31

Liverpool Echo

DWP: 10 benefits could face 'permanent cut' - including Universal Credit and ESA

The Government has not committed to raising benefits in line with inflation

Nottingham Post

DWP Universal Credit claimants with children could lose £1,000 per year

People with children claiming Universal Credit from the Department for Work and Pensions could lose up to £1,000 per year according to think tank The Resolution Foundation

Glasgow Live

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DWP Universal Credit claimants with kids could lose £1,000 a year

The DWP is being warned low income families could be hugely worse off from April

Liverpool Echo

Truss is gone. The Tory experiment is dying. Kill it off. Then don’t forgive and don’t forget

Truss and Kwarteng only extended the madness of Osborne and Cameron. And know hard years of repair lie ahead, says Guardian columnist Polly Toynbee

The Guardian - UK

Exact amount your Universal Credit and state pension could be cut in April by Liz Truss

How much is the UK state pension and what is the forecast for its rise if Liz Truss scraps the triple lock? As the UK September inflation rate is confirmed to be 10.1%, we explain what it all means for pension and benefit payments

Daily Mirror

Hunt’s expected austerity drive – where will the axe fall?

Rebellious backbenchers, underfunding and previous pledges mean there are no easy options for the new chancellor

The Guardian - UK

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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The Independent UK

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

But economists warn more pain yet to come with spending cuts

The Guardian - 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

Daily Mirror

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'

Manchester Evening News

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

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Evening Standard

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

Wales Online

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

The Guardian - UK

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 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

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

Daily Record

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.

The Guardian - UK

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

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