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The Latest Breaking News from The 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

War in Middle East ‘could wipe out growth in UK living standards’

Rising oil and gas prices may affect increase of £300 a year for typical working-age households, says leading thinktank

The Guardian - UK

Rachel Reeves in emergency talks with oil and gas chiefs amid warning of £500 rise in energy bills

Fears are growing that Donald Trump’s Iran war will push up energy bills in Britain

Evening Standard

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UK motor fuel prices rise since Middle East conflict began, and energy bills could jump 10% in July – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

UK parents fear young will be worse off for first time in a century, ex-minister warns

Alan Milburn says people feel ‘social contract is being broken’ as number of Neets climbs to 957,000

The Guardian - UK

Energy bills set to fall across the UK – but experts issue future warning

Energy bills could drop by more than £200 for some households from April

The Independent UK

Sharper than expected fall in net migration ‘will add £3bn to UK’s borrowing’

Chancellor Rachel Reeves is due to use her spring statement to give an update on the UK economy within weeks

The Independent UK

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Britons ‘working harder for less’ as living standards see historic slowdown

More than half of households in poverty now contain a working person, report finds

The Independent UK

Lower-income families face 137-year wait for living standards to double, says UK thinktank

Two decades of weak pay growth have left poorer households stuck, Resolution Foundation says, fuelling political unease

The Guardian - UK

Million-strong ‘unsung army’ of carers struggling to look after family

One million people have caring responsibilities of 35 hours or more a week

The Independent UK

Labour U-turns ‘have cost Britain £8.2 billion’

Sir Keir Starmer’s time in office has been characterised by a string of humiliating U-turns

The Independent UK

The wealthy kids of property-rich U.K. parents get the highest-paying jobs, especially sons—and new research has revealed why

For every $133,800 of extra property wealth their parents had, U.K.’s rich kids were $20,000 better off. They also have more access to high-paying jobs—with men standing to gain the most.

Fortune

UK productivity puzzle: Zombie firms fail, but jobs remain scarce

Inefficient firms in the UK are failing, hit by the cost of living crisis. If productive businesses manage to take their place, they could provide a much-needed boost to growth.

Euronews

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

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The Guardian - UK

Collapse of ‘zombie’ UK firms forecast to fuel unemployment in 2026

Businesses being hit by rising cost of interest rates, energy costs and wages, says Resolution Foundation

The Guardian - 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

Budget tax rises may be ‘fiscal fiction’ as pain delayed for election year, IFS warns

Labour MPs welcome scrapping of two-child benefit cap but worry about hefty future tax increases on constituents

The Guardian - UK

Income tax threshold freeze will hit poorer households harder, experts say

Move will have greater impact on living standards of taxpayers in bottom half of income scale, thinktanks say

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The Guardian - UK

Starmer says budget did not break manifesto tax pledge – as it happened

PM says: ‘We kept to our manifesto in terms of what we’ve promised. But I accept the challenge that we’ve asked everybody to contribute’

The Guardian - 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

Millions of UK workers to get pay rise as Reeves plans increased minimum wage

Chancellor says people must be ‘properly rewarded for their hard work’ with 16- to 21-year-olds also in line for raise

Evening Standard

Child poverty biggest threat to UK’s long-term economic future – Gordon Brown

Mr Brown is expected to call for a ‘new coalition of compassion for children that will create a chain of hope for children right across our country’.

The Independent UK

Gordon Brown to issue warning on ‘shameful epidemic’ of child poverty in Britain

The ex-Labour leader will also call for Rachel Reeves to raise taxes on gambling firms to cover the cost of lifting the two-child benefit cap

The Independent UK

Economists urge Reeves to make ‘difficult’ choices to boost market confidence

Experts said the Chancellor should prioritise bringing down Government borrowing costs.

The Guardian - UK

I hope Rachel Reeves does raise income tax – there’s a way she can do it fairly

The chancellor might need to break manifesto pledges and a 50-year taboo, but she has a chance to steer UK finances back on track, says Ruth Curtice of the Resolution Foundation

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