Budgets & fiscal events· Public spending· Economy and public finances· Economic growth Rewriting the rules Assessing Conservative and Labour’s new fiscal frameworks 7 November 2019 by Torsten Bell and Matthew Whittaker and Cara Pacitti and Jack Leslie Fiscal rules are technical frameworks only ever focused on by a tiny fraction of the population. But they are important for government’s running of our public finances, and for having a sense of where we are heading as a country. READ MORE
Jobs· Earnings Outlook· Labour market· Low pay· Pay The Resolution Foundation Earnings Outlook Q2 2019 7 November 2019 by Nye Cominetti and Jack Leslie In our Earnings Outlook for 2019 Q2 we suggest that the UK’s 12 year long pay squeeze may be about to come to an end, just in time for the election. But for many groups, typical pay is still well below its previous peak, READ MORE
Fiscal policy· Macroeconomic policy Totally (net) worth it The next generation of UK fiscal rules 29 October 2019 by Richard Hughes and Jack Leslie and Cara Pacitti and James Smith The UK needs new fiscal rules which put improving net worth at the centre, enable the government to borrow to invest, are robust to a wide range of scenarios, and allow fiscal policy to play a lead role in stabilising the economy. READ MORE
Fiscal policy· Macroeconomic policy Britannia waives the rules? Lessons from UK and international experience with fiscal rules 21 October 2019 by Richard Hughes and Cara Pacitti and Jack Leslie The UK’s current fiscal rules will expire in 2020-21 and all major political parties have committed to replacing them. This paper explores the lessons from UK and international experience that can help set the UK’s next generation of fiscal targets. READ MORE
Monetary policy· Fiscal policy· Economy and public finances· Macroeconomic policy Dealing with ‘no deal’ The economic policy response to a ‘no deal’ Brexit 19 September 2019 by Richard Hughes and Jack Leslie and Cara Pacitti and James Smith This report provides a framework for understanding what role macroeconomic policy can play in alleviating the economic impact of a ‘no deal’ Brexit. READ MORE
Monetary policy· Fiscal policy· Macroeconomic policy Recession ready? Assessing the UK’s macroeconomic framework 9 September 2019 by James Smith and Jack Leslie and Cara Pacitti and Fahmida Rahman This report is the launch paper for the Resolution Foundation’s Macroeconomic Policy Unit. It provides the most comprehensive assessment of the UK’s macroeconomic policy framework since the financial crisis, focusing on the ability of the framework to provide effective support to the economy in the face of the next recession. This work is important, given … Continued READ MORE
Monetary policy· Macroeconomic policy Quantitative (displ)easing? Does QE work and how should it be used next time? 7 September 2019 by Jack Leslie and Fahmida Rahman and James Smith and Joe Gagnon After the financial crisis, central banks purchased massive amounts of long-term bonds to stimulate economies. These purchases have come to be known as quantitative easing (QE) and have been hugely controversial – barely a third (37 per cent) of UK Members of Parliament, when polled, support its use in future. In theory, QE stimulates the … Continued READ MORE
Earnings Outlook· Labour market· Pay· Minimum wage Earnings Outlook Q2 2019 29 July 2019 by Nye Cominetti and Jack Leslie In our Earnings Outlook for 2019 Q2 we suggest that the UK’s 12 year long pay squeeze may be about to come to an end, just in time for the election. However, we also note that for many groups, typical pay is still well below its previous peak, and that although we will soon hit … Continued READ MORE
