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The Latest Breaking News from The Resolution Foundation

Biggest inflation shock in decades has turned UK into nation of savers – report

Big changes in overall prices remain with us, even though inflation is easing, the Resolution Foundation said.

The Independent UK

High interest rates could add billions to UK green energy transition, says report

Resolution Foundation calls for fourfold increase in renewable power investment to reduce pressure on household bills

The Guardian - UK

Thousands of disabled people ‘will get £2,800 a year less under universal credit’

Single people with long-term disability that stops them working will be much poorer after rollout, Resolution Foundation says

The Guardian - UK

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London Rent To Increase 13% in Next 3 Years; Officials Want Better Protection of Renters

Rent rises are set to grow by a further 13 per cent despite having increased at the fastest rate recorded in the past two years

International Business Times UK

Two-child benefit cap 'pushes children into poverty' - campaigners urge government to scrap 'cruel policy' that impacts 1 in every 10 children

The controversial two-child benefit cap has met with strong opposition since its introduction in 2017

GoodToKnow

UK rent rises forecast to outpace wage growth for three years

Average 13% increase by 2027 will put millions of households under further pressure, says thinktank

The Guardian - UK

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

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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

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

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

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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

International Business Times 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.

The Guardian - 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

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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

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

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

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