Afternoon all, It’s a pleasure to be in your inboxes once again. We published a book this week called Unsung Britain. It summarises over 18 months of work during which we considered how to improve the material realities of the 13 million working-age families across the poorest half of the country. We decided to call the group our book … Continued

Morning all, Before this week the odds of a change before Easter were low, but that moved to a knife-edge on Thursday. I’m talking, of course, about the shift in interest rate expectations after four members of the MPC unexpectedly voted for a cut. It was certainly a dramatic week, delivering a Resolution Foundation first – we … Continued

Morning all, In case you missed it, we published a cracking paper earlier this week laying out improvements that can be made to the Universal Credit (UC) system without breaking the bank. UC already support claimants with childcare costs, for example, but providing that money up front would remove a barrier to work. Claimants who have been … Continued

Afternoon all, Ruth did warn you – and now it’s my turn to drop something thought‑provoking into your inbox. It’s been a lively week in the worlds of politics and economics, and we’ve pulled together the sharpest takes. If the spectacle in Davos has worried you, Something for the Weekend may offer an antidote – your top reasons to stay optimistic. There’s plenty more to get stuck into: fresh research on intergenerational inequality, the … Continued

Afternoon all, Big week for turning around in Westminster. The highlight (so far as we’re concerned) was a welcome upside surprise on monthly growth – the no-fun caveat for which is that on more reliable longer-term measures we’re actually growing even slower than our dismal recent track record. For those wanting to know more about how to pull those levers, we have a sneak peak of our big growth paper below that we’ll be launching on Monday. If you’re a big fan of entertaining but informative newsletters (which, of course you … Continued

Afternoon all, Happy new year! Keir Starmer kicked it off talking about cost of living, and it was a pleasure to do the same on a special episode of More or Less (and to tick ‘meeting Tim Harford’ off the geek bucket list!). Since we recorded it before the Prime Minister’s comments, find a break-down of rhetoric … Continued

What a difference a year doesn’t make. This time last year the Government had just announced huge tax rises, having previously said they weren’t coming; trade wonks were wondering what Donald Trump’s next tariff policy would be; and Labour politicians awaited the May elections with trepidation. Yet this sense of déjà vu is only part of … Continued

Morning all, It’s nearly Christmas which means it’s time for three things: a quiz of the year, festive reflections and something to look forward to in 2026. First, you don’t want to add to your reading list. But I couldn’t believe you wouldn’t want another chart. So this year the Resolution Christmas card brings you … Continued

Afternoon all, I’ve been taking a smidgen of time for post-Budget recovery this week, so can unusually provide dear TOTC readers with a cultural recommendation. All My Sons lives up to the cast and tells the tale of regrets of a businessman who during the war prioritised the temptations of capitalism over safety. It certainly put the findings of the Covid Counter Fraud Commissioner this week somewhat in perspective. It is at least nothing … Continued

Afternoon all, It hasn’t been a smooth Budget process and, with apologies, we’d like to issue a correction – our Budget special erroneously stated that new policy on welfare over the course of this Parliament had increased spending by “£0.7bn in 29-30″. The correct number is in fact a drop of £0.5 billion – mea … Continued

Afternoon all, As someone who has worked with him closely from the Treasury side let me tell you something – Richard Hughes can be very annoying. He is stubborn in the face of lobbying. He unites with his team even when they make mistakes. He argues with the fervour of someone who is in it … Continued

Afternoon all, Five sleeps to go…and finally the Budget speculation, at least, will be over. I hope to see many of you at our morning-after event. The Government’s proposal to end for-profit ticket sales met with mixed reactions this week – never fear, our Budget reactions will always remain free (but have been known to sell … Continued

Afternoon all, It’s not unusual for Budget plans and numbers to change up until the last minute. But there are three things to take from this morning’s news that last week’s rumoured Income Tax rise isn’t happening anymore. First, none of it quite makes sense. Yes, the economic forecast may be better than originally feared, … Continued

Afternoon all, Plug in baby – what a week. We published our pre-budget analysis – Black Holes and Consolidations – and I put out my first Budget Muse-ing on why there’s a strong case for putting up income taxes. The Chancellor stole our thunder though, confirming we’re going to see an Uprising in taxes. But could OBR revisions to wage … Continued

Afternoon all, The printing-presses never stop at RF Towers – we’ve published four briefings since I last appeared in your inbox, ranging from day one frights to half-measures on poverty reduction (more on that in Chart of the Week…). The Budget-heads among you will surely have already signed up to our pre-Budget briefing on Tuesday, with a focus on housing coming the week after. We’ll be … Continued

Afternoon all, Hopefully half-term will put a dampener on the “six-seven” thing, which I’m baffled to report has reached London schools. It is an interesting example of the internet-ification of playground slang – as this teacher-penned article noted: “pupils in Cornwall and Cumbria are just as likely to shout “Skibidi Toilet” as those in London”. In less … Continued

Morning all, Let’s start with a wonkhack tip – if you’re going to be grilled at the Treasury Select Committee, I highly recommend bringing a phone a friend panel as strong as the one that accompanied me on Tuesday. We spent the first half discussing the need to simplify and reform the tax system to boost … Continued

Afternoon all, The leaves are falling in earnest, parliament returns from conference recess next week and coffee chains are flavouring their drinks with gourds…autumn is well and truly here, and the Budget countdown has begun (47 sleeps to go!). We’re throwing a wide net this week with reads on trade, pay volatility and declining fertility. … Continued

Afternoon all, Released from the strictures of the civil service, I thought my first ever party conference would be like opening a door to a magical new universe. To be honest, it was a bit more conference, and a bit less strange new land than I had anticipated. Maybe the Conservatives will offer more witches and … Continued

Afternoon all, It’s a weekend for competition – whether you prefer golf, dancing or bear fights. No, not Burnham vs. Starmer at Labour Party conference, but the wonderful fat bear competition. I wonder who Mark Carney will be backing this weekend… Presumably, his days of party conference endorsements are over, but he’ll have to pick a side … Continued

Morning all, Last week we warned that more bad economic news could mean Britain hitting unlucky 13 on the ‘bloody miserable index’ (unemployment + inflation + interest rates). I’m pleased to report that none of these rates moved in the end, keeping the UK at 12.5. There were mixed signals behind the no change headline. … Continued

Afternoon all, So, Radiohead fans: did you manage to get an unlock code for the upcoming tour and survive being shunted multiple times to the back of the ticket ordering queue to finally lay your hands on the elusive prize? Well, you and I are feeling much like our Chancellor right now – seemingly unlocking the … Continued

Hi all, Set your calendars for late November — and no, not just Radiohead’s first tour in seven years. It’s Rachel Reeves’s second Budget (see our chart of the week for more). Reeves is under pressure to prove she can deliver a British economy which is fitter, happier and more productive without making the sums … Continued

Morning all, Tera here, stepping in as guest editor. Following both Ruth and Giles is, frankly, a daunting prospect – but it’s August, and no one reads anything too carefully in August. So here we are. With half the economics and policy world on a sun lounger, it’s been a good week to catch up … Continued

Afternoon all,  Giles Wilkes here – no, I’m not the new Chief Executive of RF, but have been given the great responsibility of guest editing ToTC while Ruth is away this week.  I have a habit, as I slog through the week’s economic news, of filing everything into a good or bad news bucket. Recently, … Continued