Housing cost struggles up by 70 per cent since peak of the pandemic

The cost-of-living crisis has left over two-in-five working age households struggling with or falling behind on their housing costs, compared to just over a quarter of households at the peak of the pandemic, according to new Resolution Foundation analysis published today (Saturday). The Foundation’s latest Housing Outlook uses data from a new YouGov survey of … Continued

TaskHer, the online booking platform helping homeowners book professional tradeswomen raises £200k from a trio of impact investors

TaskHer, the online booking platform helping homeowners book professional tradeswomen, today announced that it has raised £200k in a pre-seed funding round from a trio of UK impact investors. The investment from Bethnal Green Ventures, Resolution Foundation and Ufi Ventures will be used to develop the platform and to support and build the growing community … Continued

Care workers are paying for their dedication with unsafe working conditions and unlawful minimum wage under-payment

Social care workers have higher levels of job satisfaction and stronger job attachment than those in other low-paying sectors, but many have to contend with unsafe working conditions and unlawful under-payment of the minimum wage, according to new research published today (Thursday) by the Resolution Foundation. The Foundation’s report Who cares?, supported by Unbound Philanthropy, … Continued

Record borrowing in December shows Britain is far from out of the woods

Recent glimmers of good economic news have yet to feed into the public finances, with borrowing in December around £4 billion higher than market expectations, and nearly £10 billion higher than OBR forecasts (due in partly to the treatment of student loans), the Resolution Foundation said today (Tuesday) in response to the latest ONS public … Continued

UK’s saving incentives not fit for purpose with the rich pocketing lion’s share of £7 billion cost

Government incentives for savings are not fit for purpose, with around 750,000 low-and-middle income households having no savings at all, as rich individuals benefit from costly and unnecessary tax breaks, according to new Resolution Foundation research published today (Monday). The report ISA ISA Baby – published in partnership with the abrdn Financial Fairness Trust – … Continued

Five terrible tax breaks are costing taxpayers £4 billion a year

Five poorly-justified tax reliefs, used by just 70,000 individuals, are costing other taxpayers £4 billion a year, according to new HMRC tax reliefs statistics published today (Thursday), and should be in the sights of the Chancellor as he approaches his Budget on 15 March, the Resolution Foundation says. The latest HMRC data shows that 105 … Continued

44 per cent disability income gap makes people with disabilities more likely to struggle to heat their homes and cut back on food this winter

Massive income and material deprivation gaps between people with disabilities and the rest of the population mean that disabled people are hugely exposed to the rising costs of essentials, with two-in-five unable to heat their homes this winter, and almost a third needing to cut back on food expenditure, according to new research published today … Continued

British families face a ‘groundhog year’ as 2023 re-runs 2022’s income falls despite signs inflation has peaked

While 2023 may offer economic policy makers some relief, with signs inflation will ease and interest rates peak lower than feared, family finances face a ‘groundhog year’ repeat of 2022’s squeeze as the cost-of-living crisis deepens next year, according to the Resolution Foundation’s New Year Outlook published today (Friday). The Foundation says that 2022 has … Continued

Highest number of days lost to strikes in ten years – but set to continue rising as public sector real wages fall

Recent industrial action has led to the highest number of days lost to strikes in October 2022 since November 2011, and this is set to rise in the coming months as labour disputes over falling real wages continue, the Resolution Foundation said today (Tuesday) in response to the ONS labour market statistics. The largest strike action … Continued

‘Leaky walls’ are the biggest challenge for England’s energy efficiency drive, and radical steps are needed to support less affluent families with home improvements

England’s plans to insulate its housing stock must step up a gear by focusing on the most difficult barrier – nine million homes with ‘leaky walls’ – which poorer owners will simply be unable to address without more radical state support, according to new research published today (Monday) by the Resolution Foundation. Hitting a brick … Continued

Global trends are set to push down UK inflation

Global economic trends that have been the principle driver of the inflation surge of the past 12 months – including high demand for goods from US consumers and trade disruption, as well as fast rising energy prices – have all started to ease in recent months and will put downward pressure on inflation over the … Continued

Britain’s ‘part-time work divide’ offers higher life satisfaction for many lower earners, but career constraints or lower living standards for others

People choose to work part-time for a number of reasons, many of them positive, but lower living standards, limited progression, and underemployment are key areas for concern, with the concentration of low hours work among lower earners amounting to a ‘part-time work divide’ between rich and poor households, according to new research published today (Wednesday) … Continued

Energy Price Guarantee on course to cost £16 billion over the winter months

The Ofgem announcement today (Thursday) that the annual energy bill of a typical household would have risen to £4,279 between January and March 2023, were prices not capped by the Government’s Energy Price Guarantee (EPG), means that supporting all households with energy bills over these three months will cost £16 billion, according to Resolution Foundation … Continued

British workers are living through a two-decade wage stagnation costing £15,000

Chancellor’s tax heavy consolidation adds to pressure on the ‘squeezed middle’ as well as the top

The Chancellor’s Autumn Statement has piled further pressure on ‘the squeezed middle’, with personal tax rises announced during the parliament set to deliver a permanent 3.7 per cent income hit to typical households, the Resolution Foundation said today (Friday) in its overnight analysis of the Autumn Statement 2022. Key findings from the Foundation’s overnight analysis … Continued

Hunt combines George Osborne rhetoric and Gordon Brown policy, announcing energy support today and tougher times tomorrow with top-heavy tax rises and backloaded spending cuts

The Chancellor has responded to a grim economic outlook with renewed energy support next year and a backloaded fiscal tightening, combining huge stealth tax rises with far less concrete spending cuts, the Resolution Foundation said today (Thursday). The Office for Budget Responsibility (OBR) forecasts combine an energy shock driven recession – unemployment is set to … Continued

Cost-of-living gap between rich and poor hits fresh high, as effective inflation rate for low-income households hits 12.5 per cent

A jump in energy costs, despite the Energy Price Guarantee (EPG), and rising food prices, which rose by 16.4 per cent (the biggest annual increase since 1977), pushed CPI inflation to 11.1 per cent in October, and 12.5 per cent for low-income households, the Resolution Foundation said today (Wednesday) in response to the latest ONS … Continued

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