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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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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‘No deal’ Brexit tariffs could mean millions of households facing price rises of over £500 a year

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Public Finances and the Economy

  Exiting the EU without a trade deal and reverting to WTO ‘most-favoured nation’ (MFN) tariffs with the EU would lead to significant price rises across a range of goods, with low-income households facing the biggest cost pressures. This is according to a new joint-report published today (Tuesday) by the Resolution Foundation and the UK … Continued

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Welcome inflation fall but poorest households are experiencing the biggest price pressures

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Public Finances and the Economy

  Welcome inflation fall but poorest households are experiencing the biggest price pressures The poorest households have experienced higher inflation than the richest households since the start of the year, the Resolution Foundation said today (Tuesday) in response to the latest inflation figures, which saw CPIH fall to 2.6 per cent in June. New Resolution … Continued

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The forgotten deficit – huge uncertainty over parties’ fiscal plans just four weeks from polling day

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Public Finances and the Economy

  Huge uncertainties about the main parties’ fiscal stances, just four weeks from polling day, mean that there could be as little as £7bn difference between them – or well over £50bn. This is according to a new report published today (Thursday) by the Resolution Foundation. The Deficit the Election Forgot notes how the deficit has … Continued

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Public and family finances squeezes extended well into the 2020s by grim Budget forecasts

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Public Finances and the Economy

Britain is on course for an unprecedented 15 years of spending cuts and lost pay growth, according to the Resolution Foundation’s overnight analysis of Budget 2017. The report finds that despite the Budget day focus on short term forecast improvements, the date for achieving an overall budget surplus has been pushed back until 2025. Average … Continued

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