House of the rising son (or daughter): the impact of parental wealth on their children’s homeownership

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Housing, Wealth and Debt

Homeownership rates have plummeted for today’s younger generation. Hypothetically, it would currently take a 27-30 year old first time buyer around 18 years to save for a deposit if they relied solely on savings from their own disposable income (up from three years two decades ago). Rising unaffordability has led many first-time buyers (FTBs) to … Continued

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The good, the bad and the ugly: the experience of agency workers and the policy response

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Jobs, Skills and Pay

In December 2016, the Resolution Foundation published its first report in a new programme of work exploring the world of agency workers. Despite the fact that agency work has been a feature of the UK labour market for at least a century, it has been the subject of limited research especially compared with recently emerging … Continued

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The Resolution Foundation Earnings Outlook Q2 2018

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Jobs, Skills and Pay

In October there was good news on pay: nominal pay grew by 3.1 per cent in the 12 months to August, the fastest growth since the financial crisis (January 2009). The question is, is such (relatively) strong pay growth likely to be sustained? Nominal pay growth has been building steadily since early 2017, so this … Continued

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Back in Credit? Universal Credit after Budget 2018

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Tax and Welfare

This briefing note focuses on the implications of recent changes to Universal Credit (UC) – in particular the £1,000 increase in work allowances announced in Budget 2018 – for the number of winners and losers from the switch to this new benefit system, for UC’s generosity and for its impact on work incentives.   Key … Continued

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How to spend it: Autumn 2018 Budget response

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Public Finances and the Economy, Tax and Welfare

Defying expectations of a quiet Budget, the Chancellor yesterday delivered a statement with bigger political and economic shifts than many anticipated. Given the task of delivering a Prime Ministerial promise to ‘end austerity’ with a parliamentary arithmetic that rules out significant tax rises, Philip Hammond seized the lifeline of a much improved public finance forecast … Continued

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