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The Latest Breaking News from Torsten Bell

Sunak warned unfunded axing of national insurance would harm services

Economists say making the policy an election pledge could cost £40bn, which is badly needed for health, education and elsewhere

The Guardian - UK

UK to have first parliament in modern history with fall in living standards, says thinktank

Household incomes on course to fall despite national insurance cuts in budget, says Resolution Foundation

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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Tories have plenty of weak spots – and dislike years that end in four

Labour will be going on the attack, mindful of having come to power in 1924, 1964 and 1974

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

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

Jeremy Hunt denies lying about ‘record tax cuts’ claim

Chancellor speaks out after BBC interviewer tells him Tory advert is ‘fundamentally dishonest’

The Independent 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

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

Jeremy Hunt cuts national insurance but UK tax burden set to hit high amid plummeting living standards – as it happened

Chancellor cuts national insurance but OBR says UK facing biggest fall in living standards since records began

The Guardian - UK

Interest rates blame game erupts between Tories and Bank of England, as recession warnings grow

Bank governor Andrew Bailey fights for future – and blames company bosses for fuelling inflation with pay rises

The Independent UK

Price of food to replace energy as biggest cost-of-living problem – think tank

The head of the Resolution Foundation warned poorer households would end up eating less as food prices continue to rise.

The Independent UK

Hunt’s pensions tax break expected to help ‘nearly as many bankers as doctors’

Head of Resolution Foundation says other measures to retain NHS staff could have offered better value for money

The Guardian - UK

UK workers £11,000 worse off after years of wage stagnation – thinktank

Resolution Foundation analysis suggests UK lagging behind similar economies such as Germany

The Guardian - UK

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The Independent UK

Budget 2023: UK faces ‘disastrous decade’ for living standards as households set to be £4,200 poorer

Economy in ‘deep funk’, warns think tank – attacking Jeremy Hunt’s ‘wasteful’ pensions tax break

Evening Standard

Labour would scrap Chancellor’s ‘gilded giveaway’ to wealthy pensions savers

Shadow chancellor Rachel Reeves would reverse the ‘pensions bung for the 1%’

The Independent UK

Labour promises to reverse Jeremy Hunt’s pensions ‘giveaway for richest 1%’

Rachel Reeves vows to reverse ‘free-for-all for wealthy few’

The Guardian - UK

Hunt’s ‘budget for growth’ gives top 1% a pension bonus but ignores public services

No money for nurses, doctors or teachers note critics as Starmer says UK is on ‘path of managed decline’

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Chronicle Live

Budget leak claims big changes ahead for DWP assessments and Universal Credit sanctions

The DWP will not confirm reports published on social media by think tank boss ahead of tomorrow's Budget

The Guardian - UK

We’ve avoided recession for now, but the outlook is one of perma-gloom

December’s GDP was boosted by us all cranking up the heating. Actual economic growth has not looked so weak in decades

The Independent UK

Families facing ‘groundhog year’ as financial squeeze continues – think-tank

Family finances face a repeat of 2022’s squeeze as the cost-of-living crisis deepens, the Resolution Foundation has warned.

The Independent UK

UK unveils emergency budget amid big demands but little cash

Just three weeks after taking office, British Prime Minister Rishi Sunak faces the challenge of balancing the nation’s budget while helping millions of people slammed by a cost-of-living crisis

The Guardian - UK

Letters: nurses need a little nurturing

No wonder they are leaving the profession: nurses don’t expect to be rich, they just want to feel valued

The Guardian - UK

Change of prime minister is likely to delay UK’s fiscal plan

Credibility of economic event could be in doubt if it is launched on Halloween, just a few days into new leader’s tenure

The Independent UK

Austerity cuts could be as deep as 2010, experts warn as energy bills set to hit £5,000

Chancellor Jeremy Hunt leading push for ‘austerity season two’, says Labour

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