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The Latest Breaking News from The Resolution Foundation

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

The Guardian - UK

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Jeremy Hunt blames Brexit for sparking half-decade of instability

Chancellor says vote led to ‘incredibly challenging time’ as he defends tax cuts paid for by public sector austerity

The Guardian - UK

Britain’s snail-pace growth has set U.K. households back by $10,500 as peers in France and Germany pull away

Growing income inequality, depressed productivity and underinvestment are among the causes hurting British workers and households.

Fortune

British workers missing out on £10,700 a year as living standards fall

Report by Resolution Foundation and LSE calls for economic strategy rethink after 15 years of relative decline

The Guardian - UK

Keir Starmer: Labour ‘won’t turn on spending taps’ if it wins election

Labour leader to warn that Britain is in worst economic state for over 50 years and spending will need to be constrained

The Guardian - UK

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UK households to be £1,900 poorer by end of this parliament, say economists

Warning comes after Resolution Foundation finds autumn statement favours richest 20% of earners

The Guardian - UK

UK facing ‘elevated’ recession risks as new orders fall; Nissan’s EV boost in Sunderland; Turkey hikes rates – as it happened

Latest PMI survey shows a marginal return to growth for UK companies, but falling orders raises recession risk

The Guardian - UK

Hunt’s tax cuts based on ‘implausible’ public spending squeeze – think tanks

Economists said the Chancellor’s tax reductions will not prevent this from being the ‘biggest tax-raising’ parliament in modern times.

The Independent UK

Hunt refuses to rule out shock income tax cut amid warnings of revolt if budget favours rich

Red wall Tory MPs warn inheritance tax cut would be ‘odd priority’ and viewed as handout for the rich – as chancellor appears to switch focus

The Independent UK

Cashing in? The mortgage-free landlords who are raising the rent anyway

Majority of letters with no exposure to rising interest rates are demanding more money in new tenancy agreements

The Guardian - UK

British millennials still bearing scars of 2008 financial crisis, says research

Generation Y counterparts in the US have closed living standards gap on previous generations

The Guardian - UK

Interest rate rises caused sharp drop in UK household wealth, report finds

Resolution Foundation says higher interest rates have led to a fall in house prices and pension pots

The Guardian - UK

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The Guardian - UK

Raise Bank of England inflation target to 3%, says leading thinktank

Resolution Foundation also calls for Bank to have power to set below-zero interest rates in response to future downturns

The Independent UK

Britain needs economic and fiscal policy ‘reset’ to fight future crises – report

The Resolution Foundation is warning the UK is on course for debt to rise to around 140% of economic output over the next 50 years.

The Independent UK

Freezing working-age benefits could save £4 billion but come at ‘terrible cost’

A cash-freeze on Universal Credit and other benefits could plunge an additional 400,000 children into poverty, according to research.

The Guardian - UK

Rishi Sunak ‘responsible for biggest income tax rise in at least 50 years’

Resolution Foundation analysis claims stealth move of freezing tax thresholds will raise £40bn a year

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The Independent UK

UK set for biggest tax rise in at least 50 years with £40bn raid – analysis

The Resolution Foundation said taxpayers are set to pay £40 billion a year by 2028.

The Guardian - UK

UK economy hit by ‘renewed signs of stress’ as growth slows; pound at six-month low – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Great British slowdown has hamstrung our economy – thinktank

Country needs successful firms to grow and struggling ones to shrink, says Resolution Foundation

The Independent UK

Rishi Sunak’s leadership questioned as studies sow levelling up doubt

Two reports by influential think tanks have been critical of efforts to address regional inequalities.

The Guardian - UK

UK workers will be worse off in 2024 than in 2019, thinktank warns

Resolution Foundation predicts average Britons will be 4% poorer but better-off pensioners will be ‘big winners’

The Independent UK

Run-up to general election marked by income stagnation, says think-tank

The current parliamentary term is on track to be the worst for living standards growth since at least the 1950s, the Resolution Foundation said.

The Independent UK

A third of English homes are risk of overheating in the future, analysts say

Smaller, overcrowded or urban houses are more susceptible to heat and more likely to be inhabited by poorer families, the Resolution Foundation said.

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