Borrowing to fall by £29bn over the parliament as Budget set for first fiscal improvement in three years

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Healthier-than-expected tax receipts, the absence of any immediate post-referendum slowdown in growth and measurement changes are set to lower Budget borrowing forecasts by £29bn between 2015-16 and 2020-21, according to the Resolution Foundation’s pre-Budget outlook published today (Tuesday). Economy Drive, which brings together economic data published since last November’s Autumn Statement to assess the kind … Continued

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More young people are sticking with their employer – and missing out on big pay rises as a result

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Wages & Income

  A slowdown in job moving, employers no longer rewarding staff for long service, and a shift towards work in low-paying sectors have meant that millennials have had a slower and lower-paid start to their careers than the generation before them, according to the new research published today (Thursday) by the Resolution Foundation. Study, work, … Continued

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Self-employment rise led by tax advantages for workers in high-paying ‘privileged’ sectors rather than the gig economy

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Work & Security

  The recent rise in self-employment is being led by workers in relatively ‘privileged’ high-skilled, higher-paying sectors such as advertising and banking. Their considerable tax advantages over employees, rather than new technology and the gig economy, are central to the rapid growth in self-employment, according to new analysis published today (Monday) by the Resolution Foundation. … Continued

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Rising prices is the big living standards story of 2017

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Wages & Income

  The doubling of inflation in just four months shows that rising prices will be the big living standards story of 2017, the Resolution Foundation said today in response to the latest inflation figures. CPI inflation increased from 0.9% in October 2016 to 1.8% in January 2017 – its highest level since June 2014. CPIH, … Continued

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Recent retirees drive pensioner incomes above those of working families

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Wages & Income

Strong recent growth in typical pensioner incomes has been driven by new cohorts of pensioners who are more likely than their predecessors to still be in work, own a home and have access to generous private pension pots. This is according to new analysis published today (Monday) by the Resolution Foundation for the Intergenerational Commission. … Continued

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