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The Latest Breaking News from The Resolution Foundation

Rise in UK minimum wage leaves millions short of real living wage

Lowest-paid will be £1,000 short of the figure paid by some employers to reflect actual household costs

The Guardian - UK

Minimum wage is UK’s ‘most successful economic policy in a generation’

Resolution Foundation study suggests lowest earners are £6,000 a year better off due to policy

The Guardian - UK

UK Homes Have Worst Value For Money In Developed World: Study

Britain's housing stock offers the poorest value for money among advanced nations, according to a study published Monday warning that the crisis-hit sector will loom large over this year's election.

International Business Times

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Longest sustained rise in people too sick to work since 1990s, says thinktank

Resolution Foundation points to legacy of Covid as it warns that near-record 2.7m people are too ill to work

The Guardian - UK

OPINION - The Standard View: Inflation fall is a lifeline for Rishi Sunak – but the pain isn't over yet

After a series of bruising setbacks, the Prime Minister can finally point to some positive news: inflation is falling again. The drop, from four per cent to 3.4 per cent, not only beat City expectations but means that over the past 12 months inflation has fallen at the fastest pace…

Evening Standard

Ignore the rightwing moaners. We don’t have 9m shirkers – they just want better work

A wild west labour market and millions of people on NHS waiting lists are responsible for the ballooning benefits bill, not idleness

The Guardian - UK

Income tax likely to go up if national insurance scrapped, Hunt suggests

Labour says chancellor’s ambition to eventually abolish NI would cost £46bn a year, and party questions how move would be paid for

The Guardian - UK

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UK ‘fiscally offside’ by up to £60bn, Citi fears; house prices rise again – as it happened

Rolling coverage of the latest economic and financial news, as economist warns OBR productivity forecasts are much too optimistic

The Guardian - UK

Chancellor to raise UK government borrowing to fund budget measures – OBR

Office for Budget Responsibility says national insurance and tax cuts will be paid for by average £8bn-a-year borrowing to 2028-29

The Guardian - UK

The Guardian view on young people’s mental health: this decline must be reversed

Editorial: Warnings about benefits will not solve the interlinked problems of worklessness and worsening mental health

The Guardian - UK

UK's Gen Z Too Sick To Work Due To 'Mental Health' Reasons Is 'Harming The Economy'

The study also highlights how mental health issues can even force young adults into lower-paid jobs or unemployment.

International Business Times UK

Most Britons say poor people deserve support. So what do Sunak’s Tories do? Cut, cut, cut

Slashing benefits will push even more people into poverty. Neither Labour nor Conservative voters want it, says Guardian columnist Polly Toynbee

The Guardian - UK

Jeremy Hunt’s budget giveaway ‘will act as sweet filling in tax sandwich’

Thinktank says juicy cuts this year follow far bigger increases in 2023 and precede planned ‘chunky rises’

The Guardian - UK

More than 11 million Britons have less than £1,000 in savings

Resolution Foundation calls for auto-enrolment into saving schemes, as millions have no ‘rainy day’ fund

The Guardian - UK

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The Guardian - UK

London outpacing other UK cities on services exports, report says

Capital accounts for almost half of sector’s exports and action needed elsewhere, says Resolution Foundation

International Business Times UK

Reported £19 Billion Surge in Mortgage Costs as Fixed-Rate Deals Near-Expiry

Around 1.5 million households are anticipated to have increased mortgage costs due to the housing crisis as the period of fixed-rate deals is ending.

The Independent UK

Jeremy Hunt unsure if government can afford more tax cuts

‘I don’t yet know if I can’, says chancellor when asked about pre-election tax giveaway talked up by PM

The Independent UK

Rishi Sunak tax cuts won’t ease burden, economists warn, as national insurance rate drops

The Institute for Fiscal Studies says personal taxes are rising despite much-hyped Tory tax cuts

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The Guardian - UK

UK homeowners face £19bn rise in mortgage costs as fixed-rate deals expire

Up to 1.5m households expected to face sharp increase this year, with inflation and tax rises also denting spending power

The Guardian - UK

Rishi Sunak has little to celebrate as cost of living crisis enters a new phase

The inflation shock may be fading but 13 years of Conservative-led governments haven’t

The Independent UK

Cost of living emergency ‘evolving’ as failures to tackle housing crisis ‘starting to bite’, say experts

‘The crushing vice is now really housing,’ warns Citizens Advice as new report outlines ongoing hardships facing households

The Guardian - UK

Falling UK inflation will ease pressure for high pay awards, says thinktank

Strong growth in earnings has been driven by increases in cost of living, says Resolution Foundation

The Guardian - UK

Tuesday briefing: Why Labour is following the Conservatives’ lead, from Thatcher to Hunt

In today’s newsletter: Keir Starmer has praised the former prime minister, while Rachel Reeves promises to follow the chancellor’s public spending plans. What does that tell us about what the next government will look like?

The Guardian - UK

The broken state of UK economy is clear; Hunt and Starmer’s solutions are less so

Resolution Foundation report underlines lack of progress by Tories but Labour proposals seem woolly

The Guardian - UK

Britain has been in a 15-year economic slump. This is our route out of it

Ours is the most unequal major economy in Europe, with poorer workers losing out most, says Torsten Bell, chief executive of the Resolution Foundation

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