Chancellor’s £28bn spending boost has eased but not ended austerity

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Public Finances and the Economy

  Welcome boost to Work Allowances in Universal Credit worth £630 to low-income families The Chancellor has used a cumulative £68bn borrowing windfall to significantly ease – but not end – austerity for the UK’s public services and deliver a welcome boost to low-income families on Universal Credit. Tough times still lie ahead however, the … Continued

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‘Ending austerity’ will cost the Chancellor over £30bn

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Public Finances and the Economy

Lower borrowing windfall could make Chancellor’s ‘mission impossible’ next Monday ‘just about plausible’ ‘Ending austerity’ will require £31bn of additional spending by 2022-23. However, a record borrowing forecast upgrade from the Office for Budget Responsibility (OBR) will significantly ease –  though not solve – the Chancellor’s challenge next Monday, according to the Resolution Foundation’s pre-Budget … Continued

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Falling inflation is good news for pay but confirms £200 hit for low-income families with kids

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Jobs, Skills and Pay, Public Finances and the Economy, Tax and Welfare

Press release from the Resolution Foundation Wednesday 17 October 2018 – For immediate release Inflation falling to 2.4 per cent in September brings mixed news for working families – stronger growth in their pay packets but a confirmation that the fourth year of the benefit freeze will bring significant living standards reductions for lower-income families, the … Continued

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Chancellor faces tougher choices and tax rises if Britain is to ‘reach the end of the tunnel’ on austerity

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Public Finances and the Economy

  The Chancellor will need to hope for better forecasts or raise taxes if he’s to stick to his goal of eliminating the deficit and driving significant reductions in debt, while ending the UK’s unprecedented squeeze on public spending. This is according to the Resolution Foundation’s overnight analysis of the Spring Statement 2018 published today … Continued

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