Britain on course for longest fall in living standards since records began over 60 years ago

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  Britain is on course for the longest period of falling living standards since records began in the 1950s, with the current crunch forecast to last longer than the post-crisis income squeeze, the Resolution Foundation said today (Thursday) in its overnight Budget analysis. The report Freshly Squeezed highlights the unprecedented scale of the economic downgrade … Continued

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Family finances hit by biggest ever productivity growth downgrade

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Public Finances and the Economy

Chancellor makes housing a welcome centrepiece of his Budget The Chancellor has delivered the first post-election giveaway Budget this century despite a grim outlook for the economy and public finances, driven by the Office for Budget Responsibility’s biggest ever productivity downgrade. That downgrade has huge implications for family finances over the remainder of the parliament, … Continued

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Jobs growth loses momentum as pay squeeze deepens

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Jobs, Skills and Pay

Britain’s jobs market showed potential signs of losing momentum after years of impressive growth while the recent pay squeeze deepened further, the Resolution Foundation said today (Wednesday) in response to the latest labour market figures. Today’s figures show that the UK employment rate dipped slightly from its recent peak, with recent falls concentrated among the … Continued

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The Chancellor should use Universal Credit, not the tax system, to help young people in the Budget

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Tax and Welfare

Unfreezing working age benefits next year and rebooting Universal Credit would provide a much needed living standards boost to young families as the majority of gains would go to millennials, according to a new report published today (Friday) by the Resolution Foundation. With the Chancellor under pressure to deliver an Autumn Budget that addresses the … Continued

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Young and middle income mortgage holders will feel biggest short-term pressure on mortgage costs

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Public Finances and the Economy

Barely one in ten families are at risk of an overnight effect of today’s rate rise through higher mortgage costs, with young and middle income mortgage owners facing the biggest cost increases, the Resolution Foundation said today in response to the Bank’s decision to raise interest rates by 0.25ppts. The Foundation’s analysis finds that the … Continued

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