Interest rates are at an all-time low. The Bank of England’s base rate is about to enter its eighth year at 0.5 per cent – the lowest level in its history and its longest period of non-movement since the Second World War. Yet still UK inflation remains well below its 2 per cent target, bumping … Continued
The government’s plans for deficit reduction have increasingly stark implications for public spending as their deadline draws nearer. While overall expenditure is set to remain relatively flat in 2015-16 (the period covered by the latest Spending Review) the pace of reduction in total government spending is due to increase significantly in the two subsequent years.
The electorate is broadly split over whether, come the next general election, it will still be possible for the government of the day to ensure steadily rising living standards. This analysis, ‘2015- the living standards election?’, gives a unique insight into what voters think that politicians can – and can’t – promise to achieve at … Continued
The Chancellor’s fourth Budget was a relatively quiet affair. While pre-announced changes mean that millions of households will face further reductions in benefit and tax credit receipts from April, the latest financial statement said nothing new about welfare cuts (though it confirmed that departmental spending is set to be tightened still further).
Beyond the Bottom Line, a joint report from the Resolution Foundation and IPPR, presents the first full economic analysis of the living wage in the UK, including: modelling its potential impact on labour demand and considering the potential costs of living wages for employers; analysing which workers and families benefit most from the living wage; … Continued
In this note we look in more detail at the distributional impact of this welfare cut, in combination with the decision to increase the personal tax allowance by a further £235 in April 2013 and the announcement that the higher rate threshold would increase by 1 per cent a year from April 2014. Having considered … Continued