Britain is beset by persistent economic gaps between different parts of the country, and addressing them requires investment in its major cities on a scale not currently being contemplated, according to new joint Resolution Foundation / LSE research for the Economy 2030 Inquiry, funded by the Nuffield Foundation. Incomes Outcomes – published today (Monday) – … Continued

Inflation increased slightly in May, but soaring petrol prices will drive a bigger rise in June, while low-income households continue to face the greatest cost-of-living pressures, the Resolution Foundation said today (Wednesday) in response to the latest ONS inflation data. CPI inflation increased from 9 to 9.1 per cent, while CPIH rose from 7.8 to … Continued

Brexit has not had the expected effect of narrowly reducing exports to the EU, but has instead more broadly reduced how open and competitive Britain’s economy is, which will reduce productivity and wages in the decade ahead, according to new joint Resolution Foundation and LSE research published today (Wednesday). The Big Brexit – the 26th … Continued

The UK’s decarbonisation drive will involve major change across the economy, particularly for the 1.3 million workers in carbon-intensive ‘brown’ jobs who will need to adapt to cleaner technologies and processes, but it will not destroy jobs in the way that episodes of structural change have done in the past, according to new Resolution Foundation … Continued

The number of people ending their working lives by reaching the State Pension Age (SPA) is set to reach a record high over the coming decade, but it will be more than matched by record numbers of people starting their working lives by turning 22, leading to the UK workforce get younger even while the … Continued

High inflation is causing real pay packets to shrink at their fastest rate in a decade, while the slowdown in growth may be causing the tight labour market to cool as unemployment ticks up, the Resolution Foundation said today (Tuesday) in response to the latest ONS labour market statistics. With CPI inflation hitting a 40-year … Continued

The share of young people who are workless has fallen by over a quarter since the mid-1990s, when it was a major social and economic problem, but this decline is predominantly down to falling inactivity among young women, with inactivity among young men now rising, according to new research published today (Monday) by the Resolution … Continued

The Covid-19 pandemic and its aftermath has slightly reduced employment and house price gaps across Britain, but hasn’t reduced wider economic divides, while ethnically diverse areas of outer London are at risk of falling behind, according to new Resolution Foundation research published today (Saturday). Right where you left me – the 23rd report for The … Continued

Commenting on the Government’s plans to provide further support to prospective homeowners on low-incomes by extending their entitlement to benefits, Lindsay Judge, Research Director at the Resolution Foundation, said: “The Prime Minister has identified an anomaly within our benefits system, where renters are treated significantly more generously than homeowners on identical incomes. 5.4 million renters … Continued

A meaningful ‘levelling up’ agenda cannot be limited to new tech hubs and hanging baskets on high streets, and should focus instead on improving town centres, connectivity and the quality of low-skilled jobs, according to new Resolution Foundation research published today (Tuesday). All over the place – the 22nd report for The Economy 2030 Inquiry, … Continued

British businesses have emerged from the pandemic with higher cash reserves and, rather than being plagued with zombie firms, the corporate sector has been rejuvenated with high rates of firm creation. The UK must now use this moment to turn around its poor record on productivity and investment, according to new research from the Resolution … Continued

The Chancellor’s new £15 billion package of energy bill support almost doubles that announced earlier in the year and rightly fills the gap they left by prioritising those hit hardest by the cost-of-living crisis, the Resolution Foundation said today (Thursday). Today’s package, which included a doubling of the universal Energy Bill Support Scheme to £400, … Continued

The sheer scale of the cost-of-living crisis this winter will require unprecedented, targeted Government support of up to £15 billion, and is best delivered through one-off payments via the benefits system, according to a new Resolution Foundation briefing published today (Wednesday). Pressure points examines how rising energy bills will deepen the cost-of-living crisis this winter, … Continued

The share of low-paid employees has fallen to a record low and is on track to be ‘eliminated’ by 2024, but Britain must now turn to tackling the new frontiers of low pay in the 2020s – including inadequate hours, insecure work and the spread of low-earning self-employment, according to new research published today (Wednesday). … Continued

Raising the energy price cap to around £2,800 in October could mean 9.6 million families across England falling into fuel stress this winter, the Resolution Foundation said today (Tuesday) in response to the latest Ofgem announcement. Following news that the Chief Executive of Ofgem has written to the Chancellor to say that the energy price … Continued

A net zero investment plan that leverages the UK’s existing economic strengths could help to drive growth and ‘level up’ the country as the benefits would be concentrated in lower-productivity areas of the UK outside London and the South East, according to new research from the LSE and Resolution Foundation published today (Monday). Growing clean … Continued

The gap in the inflation experienced by the richest and poorest tenth of households grew to 1.5 percentage points in April – the largest gap since records began in 2006 – illustrating why low-income families are at the heart of the UK’s cost of living crisis. The new analysis comes off the back of the … Continued

CPI inflation hit 9 per cent last month, its highest rate in four decades, while RF analysis estimates that inflation for the poorest households was higher still at 10.2 per cent, the Resolution Foundation said today (Tuesday) in response to the latest ONS prices statistics. CPI Inflation rose by 2 percentage points between March and … Continued

A tightening labour market and an increasingly mobile workforce is driving up bonuses to hire and retain staff, but the wage squeeze for the wider workforce continues to deepen off the back of rising inflation, the Resolution Foundation said today (Tuesday) in response to the latest labour market statistics. The UK labour market continues to … Continued

ONS GDP data published today (Thursday) show the economy contracted by 0.1 per cent in March with growth in Q1 as a whole coming in at 0.8 per cent, down from 1.3 per cent in Q4. The fall was driven by consumer-facing services, which fell by 1.8 per cent in March, with retail and car … Continued

Higher earners are more fearful of moving or losing jobs than low-earners, due to worries about getting less pay and flexibility when they find new jobs, while low-earners often see little benefit from upending the status quo, according to new research published today (Wednesday) by the Resolution Foundation. Listen Up – the 18th report for … Continued

The Bank of England’s Monetary Policy Committee has opted to raise interest rates at its fourth successive meeting – the first time it has done this since becoming independent 25 years ago – and marked up the scale of Britain’s cost of living crisis by forecasting double-digit inflation and a £1,200 income squeeze, the Resolution … Continued

Expected increases in the frequency and severity of flood events – a consequence of climate change – will hit poorer families hardest due to their lack of insurance cover, according to new research published today (Saturday) by the Resolution Foundation. The Foundation’s quarterly Housing Outlook notes that it is neighbourhoods with middling levels of deprivation … Continued

The misplaced view that our economic competitiveness is narrowly built on banking, and that it should be based on manufacturing, distracts from building on our advantages in a wider range of industries – including the arts, biomedical sciences, and intellectual property – and overcoming the inequality challenges they can pose, according to new research published … Continued

Today’s public finance data release gives the first estimate of borrowing in the second year affected by the pandemic. At £151.8 billion, borrowing in 2021-22 is estimated to be less than half that in 2020-21, and more than £80 billion lower than feared at the height of the pandemic, but it is still the third … Continued