Covid-19
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Labour market

Launching an economic lifeboat

The impact of the Coronavirus Job Retention Scheme

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Summary Today marks the opening of the Coronavirus Job Retention Scheme (JRS), a scheme entirely without precedent in the UK.    Its primary objective is to share the economic pain of this crisis by keeping unemployment much lower than it otherwise would have been. Indeed, although we estimate that non-working could increase by as much … Continued

Doing more of what it takes

Next steps in the economic response to coronavirus

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The Government has responded to coronavirus by shutting down large parts of the UK economy, and socialising the costs of doing so through a package of fiscal support to firms and individuals unprecedented in size and scope. Given uncertainty about how long public health restrictions will need to be in place, economic policy makers need to be prepared to manage what could … Continued

Covid-19
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Incomes
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Welfare

Next steps to support family incomes in the face of the coronavirus crisis

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The Government has set out an unprecedented package of support for family incomes, including paying 80 per cent of the wages of employees who currently have no work, via its Coronavirus Job Retention Scheme. Delivering that scheme should be the top priority, given its crucial role in preventing a very steep rise in unemployment and … Continued

Doing what it takes

Protecting firms and families from the economic impact of coronavirus

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The coronavirus health crisis is now a full-blown economic crisis, and one that may last for much more than a few months. Firms will go bust and unemployment will rise. The majority of this economic damage will be driven not by the direct impact of coronavirus itself, but by the necessary measures – such as social distancing – that we put in place to respond to it.

Housing Outlook Q1 2020

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As we enter a new decade in which both the politics and economics of housing look set to be centre stage, this quarterly publication will be tracking all the key trends as the 2020s unfold. We will be keeping an eye on the housing market, and the way that housing intersects with both living standards and policy developments. This quarter, we begin with a look at house prices and ask whether the ‘levelling up’ we observe across the country since 2016 is at an end, or if the process still has further to run.

More than we bargain for

Learning from new debates on how institutions can improve worker pay and security in Anglo-Saxon economies

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The UK’s tight labour market is delivering improvements for many, but big challenges remain that current policies and debates aren’t yet rising to meet. The UK can learn from emerging discussions and policy innovations in other Anglo-Saxon economies.

Inequality street

Housing and the 2019 general election

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Political parties’ housing policies need to tackle the reasons for the public’s heightened concern about housing: low home ownership rates, high housing costs and the burden of high costs falling particularly on those with lower incomes.

Rounding up

Putting the 2019 Spending Round into context

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In his September 2019 Spending Round the Chancellor rightly declared he was “turning the page” on austerity and “writing a new chapter in our public services”. But he has also ripped up his own fiscal rulebook, almost certainly breaking the fiscal ‘mandate’ in the near-term and casting significant doubt over his ability to keep debt falling as a share of GDP over the coming years.

Breaking the rules

Analysing the credibility of the Chancellor’s commitment to keep to his fiscal rules

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The Chancellor is shortly to deliver the first spending round (SR) of the post-austerity era. Although he is only setting departmental budgets for 2020-21, this event will mark a turning point  in our political and economic debates as it brings to an end almost 10 years of austerity. The politics of this SR are relatively … Continued

An intergenerational audit for the UK

2019

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Our Intergenerational audit for the UK takes stock of generational living standards differences in Britain according to the latest data. It does this by considering living standards within four domains: jobs, skills and pay; housing costs and security; taxes, benefits and household income; and wealth and assets.

Sorry, we’re closed: Understanding the impact of retail’s decline on people and places

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Headlines about shop closures might give the impression that retail’s decline is a recent phenomenon, but retail’s share of employment has been falling for 15 years. This report digs behind this long-run trend, driven by changes in what we spend and how we spend it, and focuses in on what really matters when it comes to economic change: people and places.

Irregular Payments: Assessing the breadth and depth of month to month earnings volatility

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This research addresses the question of earnings volatility, unearthing striking findings about the lived experience of work – and the pay we receive for it – in the UK today. This report makes use of anonymised transaction data from over seven million Lloyds Banking Group (LBG) accounts in order to demonstrate the breadth and depth of changes in pay from month to month.

Home improvements: action to address the housing challenges faced by young people

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How we can tackle one of the biggest issues for young people in 21st century Britain: the housing crisis? In this report we move beyond a diagnosis of the problem to set out a series of policy options relating to three key areas: insecurity in the private rented sector, falling home ownership rates for young people and a long-term lack of house building.

A tough gig? The nature of self-employment in 21st Century Britain and policy implications

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This Resolution Foundation analysis looks at the recent growth in self-employment. It focuses on: the sectoral make-up of the UK’s 5 million self-employed workers; the drivers of this growth since the recession; how the self-employed are treated differently in terms of tax and employment rights; and what policy challenges this raises. Key findings: Nearly 60 … Continued

You’re hired! Lessons for President Trump from a comparison of living standards and inequality in the US and the UK

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This report sets out how, despite moving in step politically of late, the US and the UK economies have had somewhat different economic experiences since the financial crisis. The most notable divergence is on employment – the issue that President Trump put at the front and centre of his economic pitch to voters. As the … Continued

Living standards
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Economy and public finances
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Political parties and elections

In the swing of things: what does Donald Trump’s victory tell us about America?

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Post-election analysis has highlighted the importance of demographic, economic and cultural factors in the US election result. In this slide pack we consider why different parts of America voted as they did. We look across 93 per cent (2,932 of 3,143) of US counties spread across 46 states including the 11 battleground states. We test … Continued

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