Tax· Welfare Happy new tax year 2025 Tax, utility bill and social security changes in April 2025 3 April 2025 by Adam Corlett and Lalitha Try April brings with it a series of tax, benefit and bill rises. We examine what these changes will mean for households and the overall outlook for disposable incomes in 2025-26. READ MORE
Living standards· Budgets & fiscal events· Welfare Unsung Britain bears the brunt Putting the 2025 Spring Statement in context 27 March 2025 by Camron Aref-Adib and Mike Brewer and Molly Broome and Alex Clegg and Nye Cominetti and Adam Corlett and Ruth Curtice and Emily Fry and Zachary Leather and Jonathan Marshall and Cara Pacitti and Simon Pittaway and Hannah Slaughter and James Smith and Imogen Stone and Greg Thwaites and Lalitha Try This briefing note analyses the choices the Government has made in the context of an awkward backdrop to the 2025 Spring Statement. READ MORE
Budgets & fiscal events· Economy and public finances The headroom bind Spring Statement 2025 preview 17 March 2025 by James Smith and Adam Corlett and Emily Fry and Louise Murphy and Cara Pacitti and Simon Pittaway and Greg Thwaites and Lalitha Try In this slide pack we preview the upcoming Spring Statement, assessing the economic and fiscal outlook ahead of this key economic-policy event. We focus on the news since the Autumn Budget and the implications of different policy choices, putting the Chancellor’s upcoming decisions in a broader context. READ MORE
Unsung Britain· Living standards· Incomes Money, money, money The shifting mix of income sources for poorer households over the last 30 years 17 February 2025 by Lalitha Try This briefing note examines the components of income for low-to-middle income families. It considers how income from earnings and benefits have changed over the last 30 years, and how fixed costs including taxes and housing costs have reduced the income available to low-to-middle income families. READ MORE
Unsung Britain· Living standards· Demographics Unsung Britain The changing economic circumstances of the poorer half of Britain 13 November 2024 by Mike Brewer and Molly Broome and Nye Cominetti and Adam Corlett and Charlie McCurdy and Louise Murphy and Cara Pacitti and Hannah Slaughter and James Smith and Lalitha Try This report marks the launch of Unsung Britain, a one-year research programme designed to understand the economic circumstances of today’s low-to-middle income families and how these have changed in recent decades, with support from JPMorganChase. READ MORE
Childcare· Welfare Hard lessons Childcare support for parents in education 9 November 2024 by Lalitha Try England’s childcare system has often been subject to criticism, but government funding has been increased in recent years, especially for parents who work[1]. At the same time, there has been no such increase in support for parents that wish to boost their living standards longer term by undertaking education or training. The childcare system in … Continued READ MORE
Budgets & fiscal events· Public spending· Economy and public finances· Tax More, more, more Putting the Autumn Budget 2024 decisions on tax, spending and borrowing into context 31 October 2024 by Camron Aref-Adib and Mike Brewer and Molly Broome and Tom Clark and Alex Clegg and Nye Cominetti and Adam Corlett and Emily Fry and Sophie Hale and Lindsay Judge and Zachary Leather and Jonathan Marshall and Charlie McCurdy and Louise Murphy and Felicia Odamtten and Cara Pacitti and Simon Pittaway and Hannah Slaughter and James Smith and Greg Thwaites and Lalitha Try This has been the most anticipated Budget of modern times. It had to wrestle with profound – and sometimes conflicting – challenges: fixing the strained public services; repairing failing public services; and breaking with the UK’s dire record on public investment. And all of this had to be squared with pre-election pledges not to raise … Continued READ MORE
General Election 2024· Living standards Hard times Assessing household incomes since 2010 28 June 2024 by Adam Corlett and Lalitha Try This briefing note is part of the Resolution Foundation’s ‘Need to Know Election 2024’ series and examines how income growth, poverty and inequality have changed over the last Parliament and since 2010. At the General Election, living standards growth should be on the agenda for any party wishing to form the next government. This is … Continued READ MORE
General Election 2024· Living standards· Intergenerational Centre Old age tendencies The impact of tax and benefit changes on intergenerational fairness ahead of the 2024 general election 26 June 2024 by Molly Broome and Alex Clegg and Sophie Hale and Charlie McCurdy and Lalitha Try In this Spotlight we look at the impact of spending, tax and benefit decisions taken since 2010 through the lens of intergenerational fairness. What stands out in this context is the increase in the generosity of the State Pension, which has led to a £44 billion increase in spending, benefiting older age groups. By contrast, … Continued READ MORE
General Election 2024· Tax· Welfare· Political parties and elections Growing for gold? Analysing the tax and spend package of the 2024 Labour Manifesto 14 June 2024 by Molly Broome and Nye Cominetti and Emily Fry and Tara Goatley and Charlie McCurdy and Simon Pittaway and Hannah Slaughter and James Smith and Lalitha Try In launching its manifesto, the Labour Party put the emphasis on efforts to boost growth. But more eye-catching were promises of some of the biggest changes to the labour market in a generation, with the aim of improving the quality of work. Proposals here included new employment rights, tougher labour-market enforcement, and an innovative approach … Continued READ MORE
General Election 2024· Tax· Welfare· Political parties and elections The narrow path to NICs cuts Analysing the tax and spend package of the 2024 Conservative Manifesto 12 June 2024 by Camron Aref-Adib and Emma Beale and Molly Broome and Lindsay Judge and Charlie McCurdy and Louise Murphy and Felicia Odamtten and Simon Pittaway and James Smith and Lalitha Try The launch of the Conservative manifesto is a big moment in this election campaign. The strategy here was clear: treble down on National Insurance (NI) rate cuts. The continued focus on NI is welcome, at least compared to the alternatives, and delivers significant cuts in tax for some, with the proposed 2p reduction delivering a … Continued READ MORE
Tax· Welfare Pensioner progress The impact of personal tax and benefit changes since 2010 on pensioner families 12 March 2024 by Mike Brewer and Alex Clegg and Lalitha Try Tax-paying pensioners did not gain anything from the Chancellor’s Budget last week, and policies announced since 2019, including the six-year freeze to tax thresholds, will cut the incomes of pensioners by an average of £900 a year, with the largest losses felt by pensioners on the highest incomes. This has prompted accusations that the Government … Continued READ MORE
Budgets & fiscal events· Public spending· Economy and public finances· Tax Back for more? Putting the 2024 Spring Budget in context 7 March 2024 by Camron Aref-Adib and Torsten Bell and Mike Brewer and Molly Broome and Alex Clegg and Nye Cominetti and Adam Corlett and Emily Fry and Jonathan Marshall and Charlie McCurdy and Louise Murphy and Felicia Odamtten and Cara Pacitti and Simon Pittaway and Hannah Slaughter and James Smith and Greg Thwaites and Lalitha Try In this briefing note, we put the decisions in the Spring Budget 2024 in context, discussing how the economic outlook has changed, what that means for the public finances, and how the policy decisions taken at the Budget will affect living standards in both the short and the medium term. READ MORE
Catastrophic caps An analysis of the impact of the two-child limit and the benefit cap 31 January 2024 by Lalitha Try In the benefit system, entitlement and need are intertwined: the greater the need, the more benefit income a family is usually entitled to receive. But in the 2010s, two policies were introduced that delinked entitlement and need by limiting the amount of benefits some families could receive: the benefit cap in 2013, and the two-child … Continued READ MORE
Budgets & fiscal events· Economy and public finances A pre-election Statement Putting the Autumn Statement 2023 in context 23 November 2023 by Camron Aref-Adib and Torsten Bell and Mike Brewer and Molly Broome and Alex Clegg and Nye Cominetti and Adam Corlett and Sophie Hale and Lindsay Judge and Jonathan Marshall and Charlie McCurdy and Louise Murphy and Felicia Odamtten and Cara Pacitti and Simon Pittaway and Hannah Slaughter and James Smith and Greg Thwaites and Lalitha Try In this briefing note, we put the decisions in the 2023 Autumn Statement in context, discussing how the economic outlook has changed, what that means for the public finances, and how the policy decisions taken will affect living standards in both the short and the medium term. READ MORE
Economy 2030 A tale of two cities (part 2) A plausible strategy for productivity growth in Greater Manchester and beyond 19 September 2023 by Paul Brandily and Mike Brewer and Nye Cominetti and Adam Corlett and Lindsay Judge and Felicia Odamtten and Henry G. Overman and Cara Pacitti and Krishan Shah and Lalitha Try Few would disagree that the UK has a significant productivity problem, or fail to recognise that the poor performance of the nation’s largest cities outside the capital contribute to that situation. As the Economy 2030 Inquiry has made clear, the productivity of our largest cities lags the UK average, bucking the global trend for bigger … Continued READ MORE
Economy 2030 A tale of two cities (part 1) A plausible strategy for productivity growth in Birmingham and beyond 14 September 2023 by Paul Brandily and Mike Brewer and Nye Cominetti and Adam Corlett and Lindsay Judge and Felicia Odamtten and Henry G. Overman and Cara Pacitti and Krishan Shah and Lalitha Try After the success of the Commonwealth games in 2022, Birmingham is now in the news for the wrong reasons. Financial difficulties facing the City Council culminated in a formal declaration on 5 September 2023 that Britain’s largest local authority was, in effect, bankrupt. But the understandable short-term focus on the council’s financial woes must not … Continued READ MORE
Economy 2030 Sharing the benefits Can Britain secure broadly shared prosperity? 4 July 2023 by Mike Brewer and Karl Handscomb and Cara Pacitti and Lalitha Try The UK has been living through a period of relative decline that has proved toxic for those on low-to-middle incomes. Against that backdrop, this report examines whether there is still a plausible path to steadily rising shared prosperity and, if so, what does it look like. It does this as part of the Economy 2030 … Continued READ MORE
Living standards· Incomes· Prices & consumption Food for thought The role of food prices in the cost of living crisis 19 May 2023 by Torsten Bell and James Smith and Lalitha Try The cost of living crisis is often thought of as a cost of energy crisis. That is an understandable, but increasingly inadequate, view. In particular, it understates the growing role of food prices (up by 25 per cent over the past year and a half) in the squeeze on living standards that households – especially … Continued READ MORE
Living standards· Prices & consumption Hoping and coping How families were faring in March 2023 27 April 2023 by Molly Broome and Karl Handscomb and Lalitha Try Families in the UK found themselves in the midst of a cost of living crisis over the winter. Inflation has skyrocketed over the past year, with prices still over 10 per cent higher than a year ago. In response to the squeeze, the Government provided £47 billion of support to households in 2022-23, offsetting around … Continued READ MORE
Living standards· Housing Trying times How people living in poor quality housing have fared during the cost of living crisis 15 April 2023 by Lalitha Try Plenty of research has shown the important role housing plays on our living standards, attitudes and wider health and wellbeing. But less attention has been paid to the effect of housing quality on living standards. In this report, we use data collected in March 2023 from an online YouGov survey (funded by The Health Foundation) … Continued READ MORE
Budgets & fiscal events· Economy and public finances We’re going on a growth Hunt Putting the 2023 Spring Budget in context 16 March 2023 by Torsten Bell and Mike Brewer and Molly Broome and Nye Cominetti and Adam Corlett and Emily Fry and Sophie Hale and Karl Handscomb and Charlie McCurdy and Louise Murphy and Felicia Odamtten and Cara Pacitti and Simon Pittaway and Krishan Shah and James Smith and Greg Thwaites and Lalitha Try This report examines the economic backdrop to Budget 2023, and assesses whether the Chancellor has successfully delivered on his central objective of boosting growth through higher employment and business investment. READ MORE
Budgets & fiscal events· Economy and public finances New Budget, same problems Spring Budget preview 6 March 2023 by Molly Broome and Adam Corlett and Emily Fry and Karl Handscomb and Louise Murphy and Felicia Odamtten and Cara Pacitti and Krishan Shah and Hannah Slaughter and James Smith and Greg Thwaites and Lalitha Try In our Spring Budget preview slidepack, we assess the economic outlook ahead of Jeremy Hunt’s Spring Budget on March 15th, and explore the policy choices facing the Chancellor in three key areas: cost-of-living support, public sector pay and boosting growth. We find that there is finally some good news for the Chancellor in the short … Continued READ MORE
Living standards· Prices & consumption The Living Standards Outlook 2023 9 January 2023 by Mike Brewer and Emily Fry and Lalitha Try To deepen our understanding of where the cost of living crisis leaves Britain, our fifth Living Standards Outlook combines a new survey of 10,000 adults’ experience of the crisis with detailed modelling of household incomes and poverty this year and beyond. READ MORE
Budgets & fiscal events· Economy and public finances Help today, squeeze tomorrow Putting the 2022 Autumn Statement in context 18 November 2022 by Torsten Bell and Mike Brewer and Molly Broome and Nye Cominetti and Adam Corlett and Emily Fry and Sophie Hale and Karl Handscomb and Jack Leslie and Jonathan Marshall and Charlie McCurdy and Krishan Shah and James Smith and Greg Thwaites and Lalitha Try This report presents Resolution Foundation’s analysis of the 2022 Autumn Statement. In the face of grim economic and fiscal forecasts, Jeremy Hunt announced energy support today but tougher times tomorrow, with stealth tax rises for the middle and top of the income distribution followed by spending cuts after the next election. READ MORE
