Thursday 25 February 2021

Budgeting for Britain’s economic recovery

The economic outlook for 2021 is highly uncertain. Having started with a renewed lockdown and likely shrinking economy, a stronger than expected vaccine roll-out offers hope for a recovery in the months ahead. The upcoming Budget on 3 March will be critical in terms of shaping the strength and nature of that recovery from this Covid-induced crisis.

How has the economic outlook changed since the Chancellor’s Spending Review in November and what will the impact on the public finances be? What should the next phase of support for firms and households look like? How long into the recovery should the Treasury keep its foot on the fiscal accelerator? And what will determine whether a recovery in GDP feeds through to household incomes?

To mark the fourth and final report in our Recovery Plan series, the Resolution Foundation is hosting an interactive webinar to debate and answer these questions. Following a presentation of the report’s key findings, we will hear from Shadow Chief Secretary to the Treasury Bridget Phillipson, and Mel Stride, Chair of the Treasury Select Committee, on how the Chancellor should use his upcoming Budget to support the recovery. Viewers will be able to submit questions to the panel before and during the event.

 

Our recovery series examines the challenges facing four key areas of the economy, ahead of the Chancellor’s Budget. The other events in the series are:

Building back business: With revenues down and debt up are firms ready to power the recovery?, 3:30-4:30pm, Wednesday 10th February

Resolving rents: Tackling Britain’s rent arrears crisis, 11-12pm, Tuesday 16th February

Recovering from long Covid: Understanding the pandemic’s labour market legacy, (feat. MPC member Michael Saunders), 11-12pm, Thursday 18th February