Analysis and action on living standards
The new Chancellor's first Budget has had to wrestle with profound – and sometimes conflicting – challenges: fixing the strained public services; repairing failing public services; and breaking with the UK’s dire record on public investment. Our overnight analysis puts the Autumn Budget 2024 decisions on tax, spending and borrowing into context.
The first Budget of the new Parliament is a particularly important one, giving the Chancellor a unique opportunity to set the economic framing for the next five years. It’s also often a chance to take painful decisions – post-election tax rises are a time-honoured tradition. The Chancellor has hinted at delivering some of the latter, saying that she wants to use the Budget to fix the foundations of the UK economy and end austerity. But how can she do that while still setting out plans to kickstart growth?
The Resolution Foundation is an independent think-tank focused on improving living standards for those on low-to-middle incomes. We work across a wide range of economic and social policy areas, combining our core purpose with a commitment to analytical rigour.
This report continues the Resolution Foundation’s programme of work looking at the main challenges from reducing carbon emissions across different sectors of the economy, and how associated changes will impact households on low-to-middle incomes.
In this briefing note, we put the big decisions faced by Chancellor in the new Government’s pivotal first Budget into context, discussing the new – and old – spending pressures faced, how the economic outlook has changed, and what all means for the public finances.
The Resolution Foundation calculates the real Living Wage – a voluntary hourly pay rate that is based on what families need to get by. The current national rate is:
Resolution Ventures exists to back innovative start-ups seeking to change the world of work for the better and early-stage ventures seeking to improve the prospects of low-to-middle income Britain.
Your weekend guide to top political-economy research from around the world
How living standards have changed for younger generations
Event invitations Top of the Charts weekend-reading email Resolution Ventures newsletter
