Staycation summer to cut UK’s £30.5bn ‘tourism trade deficit’ – with Wales, Devon, Cornwall and Cumbria set to benefit most

Press release from the Resolution Foundation The boom in ‘staycation’ holidays this Summer will provide some much-needed respite for the UK’s travel and hospitality sectors, with areas such as West Wales, Devon, Cornwall and the Lake District benefitting most – but cities such as London and Manchester losing out – according to new research published … Continued

Cutting Universal Credit at a time when families will already be facing rising inflation and higher unemployment is bad economics, and bad politics

The Resolution Foundation response to the Government’s announcement today that they are going ahead with the £20 a week cut to Universal Credit from this October Torsten Bell, Chief Executive of the Resolution Foundation, said: “The decision to cut Universal Credit by £20 a week this October will cut the incomes of the poorest families … Continued

2.4 million employees still furloughed after May reopening – with older workers being ‘parked’ on furlough

The number of employees on the Coronavirus Job Retention Scheme (JRS) fell rapidly during May as the economy reopened, but far more people remain furloughed than previous official data has suggested, while older workers are disproportionately likely to remain ‘parked’ on furlough for long periods, the Resolution Foundation said today (Thursday) in response to the … Continued

Older workers most likely to be left parked on furlough during reopening

Over one-in-four workers aged 55-64 who were fully furloughed during the recent lockdown remained so in May despite the reopening of the economy, and now face a higher risk of unemployment as the furlough scheme is phased out from today (Thursday), according to new Resolution Foundation research. The Foundation’s annual Living Standards Audit 2021 examines … Continued

Millennials face the highest lifetime costs of their first-time properties, despite historically low interest rates

The costs of buying a typical first-time property with a mortgage have risen by two-thirds over the past half-century, with those born in the late 1980s experiencing the highest costs of all, as falling interest payments have failed to offset rapidly rising house prices, according to new Resolution Foundation research published today (Saturday). The report … Continued

Around one-in-seven arts, leisure and hospitality employees remained on furlough after grand reopening in May – despite widespread reports of staff shortages

Overall furlough rates dropped to their lowest level since the start of the pandemic in late May, but a significant proportion of employees remain out of work even as firms report staff shortages, and the Government prepares to start phasing out the Job Retention Scheme (JRS) in just two weeks’ time, the Resolution Foundation said … Continued

200,000 employees return to work in grand reopening hiring surge – but UK still has a ‘Covid employment gap’ of almost three million workers

Payrolled employment increased by almost 200,000 in May as the country experienced a grand hiring surge. However, the UK still has a ‘Covid employment gap’ of 2.8 million workers to close before the recovery is complete, the Resolution Foundation said in response to the latest ONS labour market statistics today (Tuesday). The latest data shows … Continued

New ‘workers’ watchdog’ should do a much better job of stamping out labour market abuses

Responding to the Government’s announcement of a new ‘workers’ watchdog’ today (Tuesday), Lindsay Judge, Research Director of the Resolution Foundation, said: “Labour market rules are only effective if they are enforced properly, and the current fragmented system often leaves workers most in need to support to fall through the cracks. “A new Single Enforcement Body … Continued

UK facing a ‘decisive decade’ of change that the country is neither used to, nor prepared for 

Lack of a renewed economic strategy for the 2020s risks ‘Italian style’ relative decline

The UK is facing a ‘decisive decade’ of change as five seismic economic shifts – the Covid aftermath, Brexit, the Net Zero transition, an older population and rapid technological change – come together. Our economic strategy must be rebuilt in light of these shifts, and the opportunities and challenges they create, or we risk leaving … Continued

Radical policy changes during Covid-19 crisis should prompt rethink about Britain’s welfare state

Radical changes to the UK’s social security safety net during the pandemic should prompt a wider public debate about its successes and failures, and how Britain’s post-pandemic welfare system can be further improved, according to a new Resolution Foundation report published today (Thursday). With the crisis prompting the Government to introduce radical new policies, such … Continued

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