Analysis and action on living standards
The costs of government policies have pushed up electricity bills over the past decade. This report argues that shifting some of these costs from billpayers to taxpayers would allow ministers to deliver a quick win in cutting household costs this winter.
The Budget in November is likely to reveal a significant deterioration in the outlook for the public finances, requiring the Government to raise taxes in response. A key reason for this is what the Office for Budget Responsibility will assume about how fast the economy can sustainably grow. It has been eight years since this judgement was significantly changed. Having waited a long time to revisit this key assumption, the most recent data, if anything, suggest there has been some good news on productivity growth. In this Spotlight, we unpack what this judgement means for the fiscal forecast, arguing that a growth downgrade is overdue, based on long-standing trends, rather than any news since March.
The Resolution Foundation is an independent think-tank dedicated to lifting living standards in the UK. We focus particularly on households with low and middle incomes; those on low pay or in precarious work; and those vulnerable to financial shocks.
The upcoming Budget is likely to come with a significant downgrade to the fiscal outlook. This report considers how tax policy can be used to address the expected shortfall. It sets out a range of options that could together raise over £30 billion, while minimising the economic impact of higher taxes on the economy and living standards.
This report is the fourth in our series of ‘audits’ of households’ wealth, offering the most comprehensive assessment of wealth inequality in Britain. It comes against a backdrop of an unprecedented mix of economic shocks and policy interventions during the Covid-19 pandemic and its aftermath which have had profound effects on family finances.
The Resolution Foundation calculates the real Living Wage – a voluntary hourly pay rate that is based on what families need to get by. The current national rate is:
Explore our interactive housing indicators or read about our alternative estimate of UK employment.
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Resolution Ventures exists to back innovative start-ups seeking to change the world of work for the better, and early-stage ventures seeking to improve the prospects of low-to-middle income Britain.
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