Commenting on the latest ONS GDP figures published today (Monday), which showed that the economy grew by 0.3 per cent in the third quarter of 2019 and saw the slowest annual growth rate since 2010, James Smith, Research Director at the Resolution Foundation, said: “Today’s figures show that the economy has avoided recession, but slowed … Continued

Higher housing costs have reduced incomes and increased inequality as the poorest families have borne the brunt of Britain’s 40-year housing crisis, the Resolution Foundation warns in new analysis published today (Saturday). The research – Inequality Street – notes that public concern about housing has grown in recent years, with approaching one-in-five adults now believing … Continued

Speeches from the two leading candidates to become Chancellor in the next parliament both set out new fiscal rules today (Thursday) that allow major spending increases over the next parliament, the Resolution Foundation said. Sajid Javid formally ditched the Conservative Party’s commitment to eliminate the deficit and instead set out rules to ensure that day-to-day … Continued

Average weekly earnings could finally surpass their August 2007 peak later this month, according to new analysis published today (Thursday) by the Resolution Foundation. However the UK’s 12-year pay downturn still leaves average pay £138 a week off its pre-crisis trajectory. The Resolution Foundation’s pay projection in its latest Earnings Outlook shows that, with real … Continued

Young millennials are on course to pay more and receive less from the UK’s education, health and benefit systems than any other post-war cohort, while baby boomers born in the 1950s are set to gain the most, according to analysis published in a new, updated edition of The Pinch by David Willetts. The Pinch – first published ahead … Continued

The government must set a new fiscal framework that goes beyond the traditional focuses on debt and the deficit and targets the state’s net worth, in order to meet the country’s big economic challenges over the next decade, according to a new report published today (Tuesday) by the Resolution Foundation. Totally (net) worth it – notes … Continued

Real hourly and weekly typical earnings across Britain are still lower than their 2008 level, but in April this year pay rose four times as fast for Britain’s lowest earners compared to its high earners, the Resolution Foundation said in response to the latest Annual Survey of Hours and Earnings (ASHE) published today (Tuesday) by … Continued

Maldon, Copeland and Richmondshire are ageing twice as fast as the rest of the UK, while areas such as Nottingham and Oxford are growing younger, showing that the country is growing apart as it grows old, according to new Resolution Foundation research published today (Monday). The report, Ageing, fast and slow, finds that while the UK … Continued

A ‘young parents’ penalty in Universal Credit means that young single parents are over twice as likely to lose out than to gain when moving over from the old benefit system, according to new a report published today (Tuesday) by the Resolution Foundation. The report, A fraying net, supported by the Health Foundation, explores how … Continued

Working-age benefits – including Child Benefit, Universal Credit, non-disability Tax Credits and Jobseeker’s Allowance – are set to rise by 1.7 per cent next April, their first cash increase in five years as the four-year benefit freeze comes to an end, according to new Resolution Foundation analysis published today (Wednesday). The analysis – drawing on … Continued

Pay growth remains healthy – but signs of cooling are evident as vacancies fall for the eighth month in a row A tight jobs market is continuing to deliver pay growth for workers, but another fall in vacancies shows that pay pressure is cooling, the Resolution Foundation said today (Tuesday) in response to the latest … Continued

Commenting on the Labour Party’s plans to reform the UK’s benefits system, Adam Corlett, Senior Economic Analyst at the Resolution Foundation, said: “Labour has set out some significant reforms, but they sensibly do not amount to actually scrapping Universal Credit. Now isn’t the time for another huge overhaul of our social security system. “Instead, Labour have … Continued

With existing studies of a ‘no deal’ Brexit focusing on the size of the economic shock, and many  policy makers focusing on how little can be done about the structural changes brought about by Brexit, new Resolution Foundation research, published today (Thursday) argues for a more active policy to reduce short-term damage to households and … Continued

Around one in twenty workers report not receiving any holiday entitlement, while around one in ten do not receive a payslip ­– highlighting the scale of labour market violations across the UK – according to new analysis published today (Monday) by the Resolution Foundation. The analysis, published to mark the start of the Resolution Foundation’s … Continued

Record employment is now delivering healthy pay growth and protecting it is crucial to household living standards, the Resolution Foundation said today (Tuesday) in response to the latest labour market figures. Regular pay growth (excluding bonuses) was 3.8 per cent in the three months to July 2019 (easing slightly while total pay including bonuses strengthened to … Continued

The Chancellor today ended austerity by announcing a £13.4bn increase in public service spending, and in practice tearing up his fiscal rules, the Resolution Foundation said today (Wednesday) in response to the Spending Round. The Foundation notes that the Chancellor’s spending package for 2020-21 equates to a 4.1 per cent real-terms increase in day-to-day departmental … Continued

The new Chancellor’s plans to increase public spending next week look set to be inconsistent with the fiscal rules he publicly remains committed to, according to a report published today (Saturday) by the Resolution Foundation. Breaking the rules examines the Chancellor’s options for his Spending Round next Wednesday (4 September) when he will set out … Continued

Millennials in the North East have experienced the UK’s biggest pay growth compared to the generation before them, but those in the East Midlands are earning less than people born 15 years earlier, according to new research published today (Thursday) by the Resolution Foundation. Mapping millennials’ living standards examines how young adults across Britain today … Continued

Controversial reforms to the apprenticeships system have defied many of their critics and led to a welcome drop in the number of lower-quality apprenticeships in low-paying sectors, according to a new report published today (Saturday) by the Resolution Foundation. Trading up or trading off? Understanding recent changes in England’s apprenticeships system finds that claims that the … Continued

Richard Hughes, Macroeconomic Policy Unit Research Associate at the Resolution Foundation, said: “Borrowing was £6 billion higher in the first four months of this year than the same period last year. The Office for Budget Responsibility had been expecting a 29 per cent increase in borrowing for this year as a whole, but we’re seeing … Continued

Average weekly earnings are growing at their fastest rate in 11 years, but Zero-Hours Contracts (ZHCs) are back on the rise again, despite Britain’s tight labour market, the Resolution Foundation said today (Tuesday) in response to the latest ONS labour market statistics. Nominal average weekly earnings grew by 3.9 per cent in the three months … Continued

Matthew Whittaker, Deputy Chief Executive at the Resolution Foundation, said: “Today’s negative growth figures reflect a combination of Brexit uncertainty and global economic slowdown, with both challenges set to persist over the near term. That doesn’t mean we’re necessarily heading for recession, but the risk is certainly heightened right now. “Given our work has shown … Continued

The income squeeze that followed the last financial crisis has left low and middle income households more vulnerable to the next economic shock than they were in 2008, according to new analysis published today (Monday) by the Resolution Foundation. A problem shared? examines the distributional impact of recessions in the light of the financial crisis. … Continued