Coronavirus
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Economy 2030
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Cities and regions

Right Where You Left Me?

Analysis of the Covid-19 pandemic’s impact on local economies in the UK

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Now that the Covid-19 pandemic is largely behind us, this report, part of the Economy 2030 Inquiry, considers what might be the long-term impacts of Covid-19 on spatial inequalities across the UK in key economic outcomes.  In contrast to the initial fears that Covid could permanently damage our cities (by removing office workers, with the … Continued

Economy 2030
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Firms

Bouncebackability

The UK corporate sector's recovery from Covid-19

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UK firms have, like every other part of the economy, faced a huge economic hit from the Covid-19 pandemic. So, a key question is: what is the current state of British firms as we emerge from the pandemic? This matters because the nature and strength of the recovery depends on the health of the UK … Continued

Cap off

Understanding the April 2022 inflation release

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Inflation reached a 40-year high in April off the back of a sharp rise in energy bills and the highest food price inflation in a decade. These recent drivers of inflation mean that lower-income families are facing the most severe cost pressures, with their inflation rate already hitting double digits. Families are already responding to … Continued

Inflation Nation

Putting Spring Statement 2022 in context

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This briefing note provides an assessment of the measures announced in the March 2022 Spring Statement.  The Chancellor approached this with the highest inflation in 40 years and the worst income squeeze on record lying ahead of us.  Against that backdrop, and with plenty of fiscal ammunition (thanks to the Office for Budget Responsibility’s (OBR’s) … Continued

Catch 2022

Spring Statement 2022 preview

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Ahead of the 2022 Spring Statement, we preview the economic and fiscal outlook and discuss the key decisions that the Chancellor will face. The Chancellor comes into the Spring Statement with good news since the Autumn. The strongest peacetime growth in a century means the economy is around half a per cent larger, and around … Continued

What goes down must come up

The Bank of England becomes the first major central bank to raise rates but impact will be small with fiscal policy key to Omicron response

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The Bank of England performed a ‘bait and switch’ by not raising rates in November when many people expected they would, but then raising them today when many thought the rise of Omicron would mean that they would wait to see the impact of the new wave. Many commentators have focussed on the high current … Continued

The new wave

The economic policy response to Omicron

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A new wave of this pandemic is underway, even if we can’t see much sign of it yet in the UK-wide data. The Prime Minister rightly tells us to expect “a tidal wave of Omicron coming” and in London it’s already arrived. This is not the Christmas present any of us wanted. In terms of … Continued

Home county

Options for taxing main residence capital gains

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Over the past 30 years, the total value of household wealth in the UK has risen from three times national income to well over seven times. Inflation-beating house price growth and high ownership rates have combined to add around £3 trillion of housing wealth from main residences to that total – accounting for around a … Continued

The Boris Budget

Resolution Foundation analysis of Autumn Budget and Spending Review 2021

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This briefing note provides an assessment of the measures announced in the October 2021 Budget and Spending Review. The Chancellor has unveiled a career-defining third Budget against a backdrop of heightened uncertainty and risks. His aim: to draw a line under Covid-19, boost spending in the key priority areas yet also bear down on the … Continued

An intergenerational audit for the UK

2021

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Our third Intergenerational Audit – supported by the Nuffield Foundation –  provides an analysis of economic living standards across generations in Britain. In so doing, it analyses the latest data across four domains: Jobs, skills and pay Housing costs and security Taxes, benefits and household incomes Wealth and assets In each of these domains, we … Continued

The Uncertainty Principle

Previewing the decisions to be taken at the Autumn Budget and Spending Review 2021

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This report is our analysis of the economic and fiscal outlook ahead of the upcoming Autumn 2021 Budget – including what it will mean for the decisions the Chancellor will need to take at the Spending Review. The starting point for the Budget is that the economy is in a much stronger position than was … Continued

(Wealth) gap year

The impact of the coronavirus crisis on UK household wealth

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This report is the second in a series of annual reports analysing the state of wealth in Britain. In it we provide the first complete picture of the impact of the Covid-19 crisis across the entire wealth distribution of the UK, and what it means for living standards. We find that the Covid-19 pandemic is … Continued

Stakes and ladders

The costs and benefits of buying a first home over the generations

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Today’s young people often point bitterly to the lower house prices their parents and grandparents paid, while those from older generations look jealously at the low interest rates that first-time buyers now enjoy. So, who has really had the better deal? In this briefing note we assess the costs and benefits of buying one’s first home over the generations.

Spending fast, taxing slow

Resolution Foundation analysis of Budget 2021

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This briefing note provides an assessment of the measures announced in the March 2021 Budget. The context for this Budget was an intensification of the Covid-19 pandemic, creating a need for further policy measures to support families and firms in the months before the completion of the vaccine rollout. In response, the Chancellor announced significant … Continued

How to throw good money after good

Budget 2021 and the challenge of delivering a rapid recovery from Covid-19

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While the strength of the economic recovery from Covid-19 will depend on the vaccine rollout and the Government’s ‘road map’ for easing social distancing restrictions, it will also depend on decisions taken at the Budget which are the economic counterpart to that reopening plan. This paper assesses the economic context to the Budget: how the … Continued

On firm ground?

The impact of Covid-19 on firms and what policy makers should do in response

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The coronavirus crisis has had huge repercussions across the economy, and the corporate sector is no exception. This paper analyses how the crisis has affected firms’ finances, puts that in context compared to previous recessions, and assesses the ability of firms to contribute to the post-crisis recovery. This is important because firms’ investment and hiring … Continued

The Missing Billions

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In this spotlight we discuss new research on the size and distribution of UK household wealth. Such wealth matters for living standards, economic opportunity and the ability of families to weather the coronavirus crisis. But it also matters because there is increasing interest in reforming wealth taxes in the UK, not least in the context … Continued

Macroeconomic Policy Outlook Q4 2020

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This is our regular Macro Policy Outlook, providing a policy-focused take on the economy. In this edition, we focus on the labour market, and the prospects for unemployment.   This edition of the Macro Policy Outlook looks ahead to prospects for 2021. The early months of next year will pick up where 2020 left off, … Continued

Here today, gone tomorrow

Putting Spending Review 2020 into context

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This briefing note provides an assessment of the measures announced in the November 2020 Spending Review. The backdrop to that Review was the reality of an on-going health crisis and a huge hit to the economy which looks set to leave lasting damage to both household and public finances. In response, the Chancellor has ramped up coronavirus spending this … Continued

The Covid state

Analysis of the economy and public finances ahead of the 2020 Spending Review

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The Chancellor is set to unveil his Spending Review against a radically changed economic and fiscal backdrop to the one he faced in March. Although unemployment is set to peak lower and later than had been expected back in the Summer, the long-term economic scarring from this crisis is set to be significant. The OBR’s … Continued

Unhealthy finances

How to support the economy today and repair the public finances tomorrow

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This report provides analysis of the dual challenges faced by the government: ensuring that there is sufficient fiscal support through the crisis and recovery, and setting fiscal policy on a sustainable long-term path. Some argue it is unsustainable to provide the massive government support during the crisis, while others see little constraint on government borrowing … Continued

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