Thursday 1 September 2022

A bleak midwinter?

The cost-of-living crisis facing Britain and its new Prime Minister

Britain is in the midst of a painful cost-of-living squeeze, with double digit inflation prompting the biggest fall in real wages since the Queen’s Silver Jubilee in 1977. And the crisis will get far worse in the coming months as inflation continues to rise, energy bills soar, and rising interest rates are felt in higher mortgage payments. However, the sheer scale, duration and distribution of this income squeeze are far from certain, and will depend in part on how policy makers respond. This will be the number one task facing the new Prime Minister.

How tight will the income squeeze get this winter, and who will be most affected? How should the new Prime Minister approach tackling this crisis? What mix of tax and benefit policies, or market interventions, might be needed? And what might the Government’s approach mean for the policy makers at the Bank of England?

The Resolution Foundation is hosting an event to debate and discuss these questions. Following a presentation of key highlights from our latest Living Standards Outlook, we will hear from leading experts on how the new Prime Minister might approach tackling the country’s deepening cost-of-living crisis.

The event will be open for people to physically attend, alongside being broadcast via YouTube and the Resolution Foundation website. Viewers will be able to submit questions to the panel before and during the event via Slido.