2015: The outlook for living standards – sunshine and clouds ahead

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Incomes and Inequality

The economic recovery gained momentum in 2014, though it failed to feed through into raised living standards as much as many hoped. There are reasons for being fairly optimistic that this could start to change next year. Underpinned by the buoyant jobs market we expect household disposable incomes – the best measure of living standards … Continued

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What’s in store for household incomes in 2015?

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Jobs, Skills and Pay

The 2015 election has been billed by many as the ‘living standards election’, meaning that we can expect much debate in the coming months on just how households are faring and whether economic growth is translating into income growth. To date though, most attention has focused on wages instead of incomes. The six-year real-terms pay … Continued

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Could we be set for two decades of lost pay growth?

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Jobs, Skills and Pay

Rarely have questions of household living standards and the shape of the public finances been so interwoven. The Autumn Statement – or, more specifically, the OBR’s Economic and Fiscal Outlook – identified a £25bn shortfall in tax revenues by 2018-19 relative to the projections in place at the time of Budget 2014. This is a … Continued

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Households have been coping remarkably well with high housing costs, but interest rate rises lurk just around the corner

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Housing, Wealth and Debt

The lack of affordable housing, particularly in London and the South East, is one of Britain’s most-told misery stories. But less is known about how these challenges differ for various household types and, perhaps more importantly, how people cope with them. New research by the Resolution Foundation seeks to deal with both of these questions. … Continued

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Assessing the post-election implications of the parties’ different fiscal stances

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Public Finances and the Economy

Our recent briefing note In The Balance set out some indicative figures for public finances in the next parliament based on our interpretation of each of the three main parties’ highly sketchy (to date) outlines of their preferred trajectories. This note updates this work based on the new OBR figures released alongside the Autumn Statement. … Continued

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The drama of the Commons took a back-seat to the economic musings of the OBR today

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Public Finances and the Economy

Unusually for a fiscal event so close to an election, today’s Autumn Statement was never expected to be about giveaways and grand schemes. Indeed, the politics in the Commons took a back-seat to the economic musings of the OBR. The two key questions we wanted answered? First, how would the outlook for public finances – … Continued

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