WorkerTech Newsletter – June 2024 The latest update from Resolution Ventures 28 June 2024 by Louise Marston The Resolution Foundation team has been very hard at work in recent weeks preparing a series of excellent pre-election briefings ahead of the general election on the 4th July – see below for some examples. But what might this election mean for the future of work? The team have helpfully summarised the key issues, … Continued READ MORE
General Election 2024· Living Wage How to weigh up minimum wage manifesto promises Money talks but the bite is what matters 31 May 2024 by Gavin Kelly and Nye Cominetti and Hannah Slaughter While the principle of there being a minimum wage is, happily, no longer a matter of ideological contention in British politics, its future level is likely to remain a key labour market question in the general election campaign. It matters. First and foremost for the 1.6 million workers who directly rely on it (as well … Continued READ MORE
Ventures WorkerTech newsletter: May 2024 The latest update from Resolution Ventures 31 May 2024 by Louise Marston I am bringing you this month’s newsletter, as Emma Selinger has now left the Resolution Ventures team and has headed off to join the brilliant folks at Fair4All Finance. We wish her well! We’re also heading into a General Election, which means my colleagues at the Resolution Foundation are working hard to bring you lots … Continued READ MORE
We can easily end child poverty in the UK. Here are five things to know Progress can be made. We must not let stubbornly high rates turn us into fatalists 20 May 2024 by Torsten Bell What is the case for tackling child poverty? Can we make a dent in it? How? These questions have not been at the centre of British politics for the past 14 years, and the extent to which they will return to it under a Labour government remains to be seen. But they should. Here are five … Continued READ MORE
Labour market· Pay The labour market is generating fewer jobs, but paying better for those who have one 14 May 2024 by Greg Thwaites Today’s labour market data paint a picture of a labour market that is generating fewer jobs, but paying better for those who do have one. This picture is hazy, however, because the data are themselves increasingly uncertain. The employment rate is falling The 16-64 employment rate in the ONS’s Labour Force Survey (LFS) was unchanged … Continued READ MORE
Brexit & trade Britain needs to acknowledge rather than deny its weaknesses in goods trade, and leverage its strength in services 13 May 2024 by Emily Fry The UK economy swiftly exited its recession in the first quarter of 2024 thanks in part to an improving trade balance. This is good news – but an improving trade balance is not the same as a successful trade performance. Indeed, GDP was boosted despite the UK’s total trade with the rest of the world … Continued READ MORE
Ventures WorkerTech newsletter: April 2024 The latest update from Resolution Ventures 30 April 2024 by Emma Selinger This week I’m excited to share a new addition to our portfolio. Planna is a temporary workforce management tool making seasonal work better quality and more predictable. I also wanted to let you know that this will be my last newsletter for Resolution Ventures as I am moving on to a new role. It has been a … Continued READ MORE
Labour market The jobs market recovery stalls 16 April 2024 by Greg Thwaites Today’s labour market data from the ONS suggest that both labour demand and labour supply are heading South. The only silver lining is that, for those that do have a job, real pay has been rising fast. Labour supply is falling fast Economic inactivity rate has risen to its highest rate since 2015 among those … Continued READ MORE
Ventures WorkerTech newsletter: March 2024 The latest update from Resolution Ventures 3 April 2024 by Emma Selinger This month we have two funding opportunities to share with WorkerTech founders. In February, I told you about the GLA’s No Wrong Door Open Innovation Challenge which is still open for applications until 18th April. Today we’re also opening applications for the WorkerTech Pre-Investment Programme, a programme of grants and mentoring for early-stage WorkerTech founders. More … Continued READ MORE
Universal Credit· Incomes· Inequality & poverty Five takeaways from new living standards data 22 March 2024 by Adam Corlett and Lalitha Try The annual release of DWP’s Households Below Average Income (HBAI) figures is far less timely than other economic indicators and, as it is based on survey data, it is noisy. Yet, together with the ONS’s separate income survey data (expected later in Spring), it provides key insights into how living standards have changed for different … Continued READ MORE
Economy and public finances Austerity doesn’t just damage public services, it destroys faith in the future Britain can’t afford the tax cuts announced in the budget 17 March 2024 by Torsten Bell As the dust settles on the budget, it’s time to reflect on the real task facing anyone trying to govern Britain. The tax cuts announced are paid for with big spending cuts to come: unprotected departments (like councils and prisons) face 13% (£19bn) cuts by 2028-29. Most people think delivering them is impossible, because they’ve seen the … Continued READ MORE
Ventures WorkerTech newsletter: February 2024 The latest update from Resolution Ventures 5 March 2024 by Emma Selinger This month I’m excited to tell you about a new initiative that we’re working on in partnership with the Greater London Authority and Allia.The No Wrong Door Open Innovation Challenge will support 15 innovators to test and build new solutions to support diverse groups into good quality work in London. If you’d like to know more, … Continued READ MORE
Household debt Consumer debt in the UK is down 10%. The bad news? Utility bill arrears are up Britons have been borrowing less since Covid, but people on lower incomes are falling behind on the rent 3 March 2024 by Torsten Bell It’s important to worry about the right things. Interest rates are up, sparking worries about our debts – in my case, the mortgage. Consumer debt (credit cards, overdrafts and personal loans) is surging, we’re told. But the truth is, consumer debt levels are down. New Resolution Foundation research shows them at their lowest since at least … Continued READ MORE
Brexit & trade Britain’s post-Brexit trade patterns are finally emerging in the data 28 February 2024 by Emily Fry The impact of Brexit on trade in the first two years after leaving the EU was complicated by global events: first the pandemic, and then the spike in energy prices. This means the 2023 data – the third year of trade post-Brexit – is the first real opportunity to see what’s going on. At first … Continued READ MORE
Budgets & fiscal events· Public spending Cutting back on the investment and delivery of public services is not what the economy needs – or what the electorate wants 27 February 2024 by James Smith and Tara Goatley The Government’s current plans for post-election cuts to public spending look undeliverable given rising prices and increasing demand on services. As discussed below, plans to cap day-to-day spending increases at 1 per cent (after allowing for inflation) imply very big cuts to departments not covered by existing spending commitments. This is particularly worrying given pre-existing … Continued READ MORE
Labour market enforcement· Labour market Government names and shames 500 firms for illegally under-paying staff – but will it dissuade others from flouting the law? 20 February 2024 by Hannah Slaughter Today the Department for Business and Trade published a list of more than 500 employers who have underpaid the minimum wage, in the latest ‘naming round’ that publicises firms that break the law. Among the list are household names such as Greggs, easyJet, Hamleys and River Island, as well as smaller local businesses from across … Continued READ MORE
Labour market A deep dive into the latest labour market statistics 13 February 2024 by Hannah Slaughter Today marks an important milestone for labour market wonks. After being deprived of a full labour market release since early autumn due to data issues around one of the ONS’ core surveys, this morning we got (almost) the full set of labour market data up to the end of 2023. The release sheds light on … Continued READ MORE
Ventures WorkerTech newsletter: January 2024 The latest update from Resolution Ventures 31 January 2024 by Emma Selinger ‘Why is a think tank investing in startups?’ is a question I hear a lot. This month I’m bringing you some insights from the ‘thinking’ part of Resolution Foundation to try and answer this. One of our most recent research-focused newsletters does a great job of showing how research shapes our investment priorities, while also … Continued READ MORE
Housing Housing is at the heart of the financial squeeze families are facing In spite of rising wages and falling inflation, many households feel worse off than before 19 January 2024 by Felicia Odamtten We’re more than two years into the cost of living crisis, and some politicians are cheering its end off the back of falling inflation. However, given that more families say their finances have got worse, not better in recent months, these politicians risk looking out of touch. Indeed, according to the Resolution Foundation, the average … Continued READ MORE
Ventures WorkerTech newsletter: December 2023 The latest update from Resolution Ventures 19 December 2023 by Emma Selinger As we come to the end of the year we’ve been reflecting on our work in 2023, so in this edition you’ll find our highlights of the year. Do you have a WorkerTech idea that you’re developing for 2024? Book in a time to speak to us in January to see how we can work … Continued READ MORE
Economy 2030· Tax Tax reliefs should remain a focus of tax reform 7 December 2023 by Adam Corlett It may not be exactly what is on your Christmas present wishlist, but this week has brought two exciting goodies. First, and most importantly, the Economy 2030 Inquiry’s final report – Ending Stagnation; and, second, HMRC’s annual update of tax relief statistics. This blog takes a look at the overlap between the two, with a … Continued READ MORE
Ventures WorkerTech newsletter: November 2023 The latest update from Resolution Ventures 30 November 2023 by Emma Selinger Last week we hosted our first WorkerTech Conference bringing together startup founders, investors, policymakers, unions, and researchers all interested in how tech can improve low-paid and precarious work. More details on the day are in this newsletter, and a link to re-watch the sessions if you weren’t able to join us. Since then, we’ve been busy spreading the … Continued READ MORE
Tax The coming tax reshuffle: winners and losers 20 November 2023 by Torsten Bell and Adam Corlett and Lalitha Try Last week, the Prime Minister carried out a major Cabinet reshuffle, aiming for a political reset as the election run-in builds up steam. This week, the Chancellor is doing his bit towards the same goal, with a major tax reshuffle – adding tax cuts to the tax rises already in train – on the cards … Continued READ MORE
Incomes· Intergenerational Centre Flat pay, little wealth and a shrinking safety net. Whatever happened to the millennials? What does the Intergenerational Audit say about UK Millennials 13 November 2023 by Molly Broome Recently, there’s been good news for millennials from across the pond where the latest data suggests their living standards are catching up with (and on some measures surpassing) previous generations. Unfortunately, the same can’t be said for British millennials. It’s now been five years since the Resolution Foundation’s Intergenerational Commission first laid out the state … Continued READ MORE
Incomes· Pay Falling pay, divergent data and a bulging middle. 2 November 2023 by Nye Cominetti The ONS has published its 2023 Annual Survey of Hours and Earnings (ASHE), taken in April this year. ASHE is a big survey of employers that provides a detailed picture of employee pay across different places, jobs, and types of workers. It’s also the only data we get on hourly pay. So what does this … Continued READ MORE
