Tightening up five of Britain’s existing wealth taxes and subsidies could raise almost £7bn a year by 2022-23 – and provide a down payment on covering the £36bn a year increase in the cost of public services by 2030 – the Resolution Foundation says today (Thursday) in a new briefing note. The Foundation says that … Continued

Britain’s 1.9 million black, Indian, Pakistani and Bangladeshi employees are experiencing an annual pay penalty of £3.2bn according to new analysis published today (Thursday) by the Resolution Foundation.   The Foundation says that the scale of pay penalties facing BAME (black, Asian and minority ethnic) workers should prompt government action, including building on the success … Continued

Fewer than one in five young families own in Manchester, Liverpool and Birmingham Home ownership rates for families aged 25-34 are rising for the first time in 30 years, but high barriers to entry facing first-time buyers remain acute, according to new analysis published today (Saturday) by the Resolution Foundation. The Foundation says that eased … Continued

Commenting on the ONS’s decision today (Monday) to change the accounting of student loans, Matt Whittaker, Deputy Director at the Resolution Foundation, said: “Today’s decision by the ONS to bring the cost of student loans onto the books when they are issued could have major implications for the government, despite reflecting an accountancy change rather … Continued

Commenting on the government’s reforms to the workplace announced today (Monday), which build on the recommendations of the Taylor Review of Modern Working Practices, Lindsay Judge, Senior Policy Analyst at the Resolution Foundation said:  “With Britain seeing record employment levels the government is right to focus on raising the quality as well as quantity of work. … Continued

The ONS’ decision tomorrow (Monday) on how it treats student loans in the public finances could add £72bn to the government’s borrowing figures over the next five years, and virtually wipe out the Chancellor’s Brexit ‘deal dividend’, the Resolution Foundation says in a new briefing note published today (Sunday). The analysis shows that the result … Continued

Nominal pay growth rose to 3.3 per cent – with growth strongest in hospitality, real estate and ICT – and employment returned to a joint record high of 75.7 per cent as Britain’s labour market continued to shrug off wider uncertainty about the economy this Autumn, the Resolution Foundation said today (Tuesday) in response to … Continued

An improved technical education system has a key role in meeting Britain’s productivity challenge Commenting on the speech today (Thursday) by Secretary of State for Education Damian Hinds setting out his plans to reform Britain’s technical education system, David Willetts, Executive Chair at the Resolution Foundation, said: “The Education Secretary is right to highlight the … Continued

Young people whose parents have property wealth are now almost three times as likely to be homeowners by the age of 30, compared to those whose parents have no property wealth, according to a new report published today (Tuesday) by the Resolution Foundation. With the ‘Bank of Mum and Dad’ now considered to be a … Continued

Government should close equal pay loophole to help tackle £400 agency worker pay penalty New task-forces are needed in agency worker hotspots such as Barking and Dagenham, Leicester, Sandwell and North East Lincolnshire to target poor practice and shore up the positive aspects of agency employment, the Resolution Foundation says today (Saturday) in the final … Continued

Inflation (CPIH) remained at 2.4 per cent in October, but the underlying trends suggest that price pressures could ease in the coming months, the Resolution Foundation said today (Wednesday) in response to the latest figures. Over the past 20 months, persistently high inflation has eaten into real wages, and put a lid on any building … Continued

The UK labour market is already changing ahead of its exit from the EU as the number of EU migrant workers fell rapidly over the last year, the Resolution Foundation said today (Tuesday) in response to the latest labour market figures. The latest figures show that the number of EU migrant workers in Britain fell … Continued

Britain’s unprecedented pay downturn likely to end first in Scotland   Real average pay in Britain is on course to return to pre-crisis levels by the end of 2024, but could take far longer in parts of the country, according to the Resolution Foundation’s Earnings Outlook published today (Tuesday).   With the latest ONS labour … Continued

The welcome reforms to Universal Credit (UC) announced in the 2018 Budget mean that an additional 200,000 families will be better off under the new benefit system, compared to the old one. However, further changes are needed to prevent people getting stuck in low-paid, short-hours work, according to a new report published today (Monday) by … Continued

Commenting on the regulations laid down in parliament today (Monday) that will govern the final phase of the Universal Credit roll-out, David Finch, Senior Fellow at the Resolution Foundation, said: “The final phase of the Universal Credit roll-out, which will involve around two million families moving from one benefits system to another, is the biggest … Continued

Almost half of Budget 2018 income tax cuts are set to go to the top ten per cent of households The Chancellor set out a significant easing of austerity in a £55bn giveaway Budget yesterday that set out major increases in public service spending, tax cuts and a reversal of cuts to the generosity of … Continued

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 Resolution Foundation says in its analysis of the Budget today. The Foundation says that … Continued

In response to today’s ASHE data release from the ONS that showed real pay recovering in 2018, Stephen Clarke, Senior Economic Analyst at the Resolution Foundation said: “Following the squeeze of 2017, real pay growth returned in 2018. After inflation, typical weekly wages for all employees grew by 0.3 percent in the year to April. … Continued

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

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 Resolution Foundation said today (Wednesday) in response to the latest ONS inflation figures. The … Continued

Nominal pay growth grew by 3.1 per cent in three months to August this year, the strongest pay growth since January 2009, the Resolution Foundation said today (Tuesday) in response to the latest labour market statistics. The Foundation says that Britain’s tightening labour market – with unemployment at a 43-year low of 4 per cent … Continued

Commenting on reports that the government is going to delay the final phase of the rollout of Universal Credit, and make reforms to its design – such as rolling on several benefit payments temporarily –Torsten Bell, Director of the Resolution Foundation, said: “Delaying the mandatory movement of people onto Universal Credit is a sensible step. … Continued

Three in four workers experience fluctuating pay packets, with low paid workers most exposed to big downward changes in their monthly take-home pay, according to groundbreaking new research published today (Monday) by the Resolution Foundation. Irregular payments examines anonymised month to month data from seven million Lloyds Banking Group bank accounts to reveal for the … Continued

Chancellor has one last chance to end the benefit freeze in his Autumn Budget Next week’s inflation figures are set to confirm that austerity is continuing for millions of low-income families, with the average lower income couple with kids on course for a further cash loss of £210 next year as a result of the … Continued

If the slow pace of Britain’s post-crisis pay growth were to continue indefinitely it will take until 2099 for real wages today to double in value – compared to the pre-crisis average when wages doubled every 29 years – according to a new Resolution Foundation report published today (Tuesday). Count the pennies – funded by the … Continued