These tax cut whispers are about to get louder

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Tax and Welfare

With summer over, the skies are darkening in more ways than one. Economic forecasts, previously strong for this autumn, have long been heading south. Last week sharpened the sense of impending crisis. The FTSE has been shaken more violently than at any time since the paroxysms of early 2009. On Wednesday, unemployment stats took their … Continued

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Making a Rented House a Home

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Housing, Wealth and Debt

Published today, the Resolution Foundation’s Making a Rented House a Home outlines the shocking fact that the average low to middle income household buying a home today would have taken 31 years to save for a deposit , compared to 8 years in 1983. Last week a report by the estate agents, Savills, revealed that for the … Continued

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Low growth implications for living standards particularly bleak

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Incomes and Inequality

This morning’s weak Q2 stats (pdf) would be worrying in any recovery. But in the aftermath of such a deep fall in output their implications for real trends in living standards are particularly bleak. The UK economy still has a long way to climb back to pre-recession levels of output. Chart 1 below (now updated from a recent post to … Continued

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Share of GDP paid to low earners down 25% in 30 years

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Jobs, Skills and Pay

The Resolution Foundation today publishes the latest report to the Commission on Living Standards. The report,Missing Out, (pdf) reveals that the share of GDP paid as wages to the bottom half of earners has fallen by a quarter over the last 30 years. In 1977, workers in the bottom half of the earnings distribution received £16 of … Continued

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Who ate all the pie?

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Incomes and Inequality

You probably won’t be too surprised to hear that for a long time many workers have been receiving an ever smaller portion of the fruits of economic growth. But if we are to properly understand the ‘trickle-up’ tendencies of British capitalism we need to not only register the depressing headline but get under the surface … Continued

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A gloomy prognosis for Q2 growth stats

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Public Finances and the Economy

Next Tuesday the ONS releases its first estimate of second quarter UK GDP growth.  It may be a slight exaggeration to call it a ‘make or break’ moment for the Chancellor but ‘make or brake’ might not be a bad description.  After six months of no growth another three months of flat GDP would strengthen … Continued

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