Housing We need cash for social housing – but honesty and answers too 8 April 2019 by Torsten Bell and Resolution Foundation Analysis Housing has returned to British politics. Falls in home ownership have driven it there, but in so doing opened up a much needed debate about a long neglected issue: renting. Too often in recent decades the background assumption of housing policy has been that social renting is a declining tenure, and private renting a temporary … Continued READ MORE
Pensions & savings· Wealth & assets· Intergenerational Centre More ambition, less risk – building on the success of auto-enrolment 4 April 2019 by David Willetts and Laura Gardiner We often find it harder to celebrate policy successes than decry policy failures. So you might have missed a policy success which we are marking this week. We are about to have completed the successful initial rolling-out of automatic enrolment into occupational pension saving. Millions of employees will enjoy higher living standards in retirement as … Continued READ MORE
Tax New year, new era: tax and spend in 21st Century Britain 3 April 2019 by Torsten Bell and Resolution Foundation Analysis Eras of Britain’s political economy come and go. They ebb and flow, driven by political and economic cycles. Sometimes shifts are hard to see at the time, particularly when they are obscured by the political fog of war. Or Brexit, as it’s currently known. But noticed or not, the financial year starting this Saturday will mark the … Continued READ MORE
Living standards· Childcare· Welfare CB40: Happy 40th birthday to child benefit! But will it last another twenty? 2 April 2019 by Adam Corlett Yesterday, the minimum wage celebrated its 20th birthday. Today, child benefit is having a 40th birthday bash. But, as this analysis shows, it’s become a somewhat modest affair, with (record) low generosity, fewer people invited than in earlier years, and particularly complicated arrangements. So today is a good time to step back and take stock … Continued READ MORE
Labour market· Skills Apprenticeships system favours those who already hold skills 1 April 2019 by Kathleen Henehan This morning the Department for Education (DfE) published figures outlining the number and type of apprenticeships that were started during the first month of 2019. January isn’t a big month for apprenticeship starts. However, it does mark the completion of the first half of the academic year and, as such, is a good time to … Continued READ MORE
Labour market· Low pay· Pay The minimum wage: now the only question is ‘how high?’ 30 March 2019 by Nye Cominetti This Monday, the 1st April, 2 million people working minimum-wage jobs will start the week with a pay rise. The National Living Wage (NLW), the rate that applies to 25+ year olds, will rise by 38p, from £7.83 to £8.21. We project that this will increase the number of people paid at the wage floor … Continued READ MORE
Low pay· Labour market· Pay Minimum Wage 20th anniversary special Top of the Charts 29 March 2019 by Torsten Bell and Charlie McCurdy Afternoon all, It’s an historic day today. Lots of people were planning a party/wake. Big ones. But things have got derailed. No-one can agree on what to celebrate/mourn – or even when to celebrate/mourn it. There’s a serious danger no-one gets a party at all tonight. But don’t worry – TOTC is here to turn … Continued READ MORE
Demographics· Intergenerational Centre· Political parties and elections My Generation, Baby: The Politics of Age in Brexit Britain 29 March 2019 by Laura Gardiner and Torsten Bell Generational politics is nothing new, but the extent of the profound generational cleavage that has emerged in British electoral politics is novel. The Brexit vote and the 2017 general election put generational politics centre‐stage, eclipsing in some ways the traditionally dominant role of class. Our two main parties now rely on age‐based coalitions of support—on … Continued READ MORE
Living standards· Incomes· Inequality & poverty Last year saw living standards stagnate and poverty rise 28 March 2019 by Adam Corlett It may go unnoticed amid the current political turmoil, but today we learnt a lot about the recent state of Britain via the publication of official statistics on incomes, poverty and inequality. We already know how the economy and labour market have performed over recent years, but today’s stats give us much more information about … Continued READ MORE
Labour market· Cities and regions (Almost) every part of the country is celebrating Britain’s latest jobs surge 19 March 2019 by Charlie McCurdy We’re now a decade on from the Great Recession where the UK’s labour market took a turn for the worse. Back in 2009, we were panicking that unemployment could hit over three million. Today, we’re celebrating the highest employment rate – at 76.1 per cent – since World War II, while unemployment is also at … Continued READ MORE
Labour market· Skills Taking stock of skills and education in Brexit Britain 19 March 2019 by Kathleen Henehan The skills and qualifications held by the British workforce have come under increased scrutiny lately, tied as they are to the Brexit-related migration debate. Some have argued that ‘turning off the tap’ of migrant labour will cause immediate, and substantial, recruitment difficulties for firms. Others maintain that reduced levels of migration could compel educators and … Continued READ MORE
Economy and public finances Phil ‘Bullseye’ Hammond told MPs what they ‘could’ve won’ – if only they didn’t stuff up Brexit 14 March 2019 by Torsten Bell Last night Parliamentarians went all Noel Edmonds as they debated deal or no deal. But earlier in the day it was the late, great Jim Bowen of Bullseye fame that the Chancellor was channelling in his Spring Statement, setting out just what MP’s “could’ve won” – or might still win – if they back a … Continued READ MORE
Budgets & fiscal events· Public spending· Inequality & poverty· Economy and public finances Is rising inequality helping to swell the coffers for Fortunate Phil? 12 March 2019 by Torsten Bell Fortunate Phil is not what the Chancellor generally gets called. But as he prepares for tomorrow’s Spring Statement, Philip Hammond – despite facing what looks like headline bad news – has at least some reasons to be grateful for good luck on both the economic and political fronts. The Treasury is gearing up for the … Continued READ MORE
Labour market· Childcare· Welfare How big is the gender parenting gap, and is it improving? 8 March 2019 by Adam Corlett A lot has been written about the gender pay gap, with the typical hourly pay of women in full-time work 9 per cent below that of men – down from 17 per cent two decades ago. But there is another gap lying behind the gender pay gap that gets far less attention, despite being just … Continued READ MORE
Living standards· Inequality & poverty· Social mobility To understand inequality, we need to understand its intersections too 6 March 2019 by Fahmida Rahman and Matthew Whittaker Inequality has been moving up the political agenda in recent years. Public concern about the issue is at record levels. Politicians across the spectrum – from Theresa May’s emphasis on the ‘burning injustice’ faced by many in modern Britain, to Jeremy Corbyn’s lamentation of the ‘grotesque inequality’ that characterises the UK and other rich countries … Continued READ MORE
Labour market· Low pay· Cities and regions Why city regions should be leading the charge on tackling low pay 3 March 2019 by Fahmida Rahman Low pay in Britain is an issue of national importance. With around one-in-five employees classed as low paid, the share of Brits who fall into this category remains well above the levels achieved by the best-performing countries in the OECD. That said, within Britain, there are huge disparities in terms of where low pay is … Continued READ MORE
Incomes· Living standards· Inequality & poverty What does new ONS data tell us about incomes and inequality? 26 February 2019 by Adam Corlett Today we got the first solid data about household incomes in 2017-18. Unfortunately, the figures today confirm fears that 2017-18 was not a great year for living standards progress. (Though note that the bigger sister to this release, which will give us even better data, especially on poverty, will be out at the end of … Continued READ MORE
Living standards· Incomes· Economy and public finances As growth slows UK households have already taken a £1,500 living standards hit since the referendum 11 February 2019 by Torsten Bell Today we learnt that economic growth slowed significantly at the end of 2018, with GDP only growing by 0.2 per cent in the last three months of the year. This is around a third of the pre-crisis average rate. In December alone, the economy contracted by 0.4 per cent with the manufacturing sector now having … Continued READ MORE
Labour Market Outlook· Labour market· Pay Will 2019 see a ‘new dawn’ for pay? 3 February 2019 by Nye Cominetti What does 2019 have in store for pay? 2018 was the year in which we left behind the pay squeeze of 2017. Nominal growth increased throughout the year, reaching 3 per cent for the first time in a decade. Will this momentum continue into 2019? The Bank of England thinks so. It forecasts average pay … Continued READ MORE
Labour market· Skills The post-levy Apprenticeship regime is finally taking shape 27 January 2019 by Kathleen Henehan Another year, another round of worries about the impact of the Apprenticeship Levy. Are the number of starts continuing to fall; are they all being converted to MBA-level courses; and will there be further changes to the levy? Last year, the stock answer to these questions was “wait and see.” But, as we approach the … Continued READ MORE
Living standards· Prices & consumption Five key takeaways on UK household spending 25 January 2019 by Laura Gardiner Yesterday the Office for National Statistics (ONS) published its annual rundown of what UK households spend their money on. Quite a bit of the ONS’s analysis focused on who spends most on takeaways. But given household consumption is perhaps the most detailed and direct window on current living standards, there’s plenty more of interest in … Continued READ MORE
Labour market· Pay Tight labour market breaks new ground on jobs 22 January 2019 by Stephen Clarke The UK labour market continues to confound. It seemed as though the seven year spurt in employment that began in late 2012 had come to an end in 2018. The number of people in work barely increased in the summer of last year and even fell in the three months to August. However, unlike many … Continued READ MORE
Housing The one million missing homes? 12 January 2019 by Lindsay Judge The relationship between housing supply and demand is always going to be of interest to those (like us) who care about living standards and housing costs. The ONS household figures published last month have prompted us to think more about this topic, especially given the new data suggests fewer households will form over the next … Continued READ MORE
Wealth & assets· Tax How wealth taxes can raise billions more without scaring any horses 3 January 2019 by Torsten Bell and Adam Corlett Raising taxes is never easy. Raising taxes with the government’s slim parliamentary majority is harder still. Raising taxes on wealth in those circumstances, given our diverging senses of fairness is… not a walk in the park. But that doesn’t mean it doesn’t need doing, and the good news is that significant progress can be made … Continued READ MORE
Labour market· Inequality & poverty· Pay The £3.2bn pay penalty facing black and ethnic minority workers 27 December 2018 by Kathleen Henehan It’s that time of the year when everyone does their reviews of 2018. The political review of the year will inevitably be dominated by the thrills and spills of Brexit. But for those interested in public policy, a strong contender for the Resolution Foundation’s ‘policy that could make a big difference to people’s living standards’ … Continued READ MORE
