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The Latest Breaking News from The Resolution Foundation

Pound hits lowest since April as investors anticipate budget tax rises; markets hit by AI valuation jitters – as it happened

Sterling drops against dollar as chancellor’s speech is taken as a sign that taxes will rise in the budget, and interest rates may fall faster

The Guardian - UK

Rachel Reeves speech LIVE: Chancellor accused of 'waffle bomb' as she rolls ground for Budget tax rises

Rachel Reeves has said the Budget will focus on ‘getting inflation falling’ and ‘creating the conditions for interest rate cuts’

Evening Standard

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

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Tax rises at Budget ‘inevitable’, think tank with close Labour links claims

The Resolution Foundation however suggested there was a way to implement tax rises which ‘boosts confidence in the economy and the public finances’.

The Independent UK

Rachel Reeves to pave way for tax rises in pre-Budget speech

Chancellor’s address to come after weeks of expectation management as she scrambles to fill £50bn black hole

The Independent UK

Only full abolition of two-child benefit cap will substantially cut poverty, thinktank says

Resolution Foundation says half-measures would have little or no meaningful impact on child poverty rates

The Guardian - UK

Reeves warned she must end child benefit cap altogether or face rise in poverty

A report by the Resolution Foundation will fuel demands from Labour MPs for the chancellor to find another £3.5bn to tackle end the two child benefit cap

The Independent UK

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Tories urge peers to back last-ditch changes to workers’ rights Bill

Shadow business secretary Andrew Griffith pleaded with peers ahead of votes on Tuesday.

Evening Standard

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

Millions of Universal Credit claimants set for income boost worth up to £450

The average claimants will receive nearly £400 more a year – but economists warn it comes at the ‘wrong time’

The Independent UK

Labour urged to rethink scrapping minimum wage youth rates amid ‘Neets’ rise

Thinktank fears 16- to 24-year-olds not in education, employment or training could be ‘priced out’ of entry-level jobs

The Guardian - UK

One million young people will soon not be in education or employment for first time in a decade

The number of so-called ‘Neets’ has risen by nearly 200,000 over the past two years

The Independent UK

Keep age-based minimum wage to help young people into work, says think tank

Rachel Reeves has been urged to scrap plans to abolish the lower minimum wage rates for under-21s.

The Independent UK

Rachel Reeves, just tell voters why taxes must go up – and then do it

The Thatcherite notion of tax as wicked must be challenged in the upcoming budget. Target unearned wealth; explain that tax creates a decent society, says Guardian columnist Polly Toynbee

The Guardian - UK

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The Independent UK

Average UK worker would need to save 52 years of earnings to be wealthy

The average Brit would need to work for over half a century with no outgoings to move into the wealthiest bracket, according to analysts

The Guardian - UK

Lifetime of earnings not enough for UK workers to join wealthiest 10%, report says

Research finds it would take average worker saving all their earnings for 52 years to match wealth of richest 10th of society

Evening Standard

Typical worker ‘would need to save over a lifetime’s earnings to become wealthy’

Who your parents are – rather than how hard you work – is increasingly shaping living standards over a lifetime, the Resolution Foundation said.

Evening Standard

Chancellor Rachel Reeves set to lift two-child benefit limit in November Budget

Chancellor fails to deny report she will make an announcement on the controversial policy in her Budget statement

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The Independent UK

New homes must be built in the ‘right’ areas to tackle shortages, Starmer told

A think tank says areas such as Greater Manchester and Birmingham have ‘huge productivity potential’

Evening Standard

Homes must be built in ‘right’ parts of England to tackle shortages – think tank

Areas such as Greater Manchester and Birmingham with ‘huge productivity potential’ are key to economic growth, the Resolution Foundation said.

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

Evening Standard

Rachel Reeves urged to put 2p on income tax and cut employee NI to meet fiscal rules

The Resolution Foundation said the move would create a level playing field and protect workers’ pay

The Independent UK

Cut national insurance and hike income tax to meet fiscal rules, think tank says

The Resolution Foundation said the move would create a level playing field and protect workers’ pay.

The Independent UK

Income tax hike of 2p to target pensioners and landlords would ‘level playing field’, think tank tells Reeves

Labour chancellor also facing calls to raise levies on lawyers, sugar, salt and longhaul flights in the Budget

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’

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