Housing Shared ownership more affordable than help to buy for low and modest income working families 20 November 2013 A major expansion of newly built shared ownership could help low and modest income working families across the country onto the property ladder, while keeping their housing costs affordable, according to new analysis from independent think tank the Resolution Foundation. The report, One foot on the ladder, shows that shared ownership – where buyers purchase … Continued READ MORE
Labour market Historic wage squeeze has now lasted four years 13 November 2013 Wages rise slower than prices for 48th month in a row while jobs figures continue to impress Britain’s historic wage squeeze has now been running for four years as wages continue to grow slower than prices, according to new analysis from independent think tank the Resolution Foundation. The news came alongside further impressive growth in … Continued READ MORE
Labour market More than 300,000 workers trapped at minimum wage for at least five years 26 October 2013 Britain’s growing minimum wage workforce includes 320,000 people who have been trapped on the lowest rung of the pay ladder for five years or more reveals a new report from the Resolution Foundation. Minimum Stay shows that 17 per cent of all those currently earning the minimum wage or up to 25p an hour above it, … Continued READ MORE
Labour market Falling real wages hit new lows 16 October 2013 Average weekly wages have fallen to their lowest level since measures began in 2001 independent think tank the Resolution Foundation pointed out today. Official figures from the Office for National Statistics showed that the average regular weekly wage (excluding bonuses) was £447 in August. Adjusting for inflation (using the RPI measure) this is the lowest … Continued READ MORE
Housing Building and renting to lower income families can provide attractive returns for big investors 10 October 2013 A low-risk income return of 4.7 per cent should be achievable for institutional investors putting money into the private rented sector – a move which could also help solve Britain’s housing crisis for families on modest incomes – suggests an economic study published today. The report identifies a £140 million property portfolio, made up of … Continued READ MORE
Labour market Minimum wage falls for fifth year in a row 1 October 2013 Rate is £1,000 a year lower than in 2008 after inflation. Minimum wage would have to rise to £7.81 by 2017 to recover lost value Today (October 1) the adult minimum wage goes up from £6.19 an hour to the new rate of £6.31. This increase means the minimum wage will fall in real terms … Continued READ MORE
Welfare Parents think higher earners should not qualify for childcare support finds new poll 22 September 2013 Most parents think that only families with an annual income below £75,000 should get government help with their childcare costs a new poll reveals. A third of those questioned for the Resolution Foundation poll conducted by Mumsnet feel help should be reserved for those with incomes below £50,000. The finding is at odds with current … Continued READ MORE
Economy and public finances All parties share the blame for falling living standards shows new poll 21 September 2013 More blame Labour than other parties – but Labour has the edge in 7 of 8 key policy areas affecting living standards All the main parties share the blame for the fall in living standards over recent years although slightly more people hold Labour most responsible, shows a new poll from independent think tank the … Continued READ MORE
Economy and public finances Britain is unconvinced that any party can solve the living standards challenge 16 September 2013 More than half of people say they are more likely to vote for a political party which could improve their living standards but there is scepticism that any of the main parties know how to do this, shows new polling from the Resolution Foundation. The poll, published by the independent think tank ahead of the … Continued READ MORE
Labour market Britain still waiting for wage recovery despite strong employment figures 11 September 2013 News that real average wages have fallen further behind inflation means Britain’s workers are still awaiting a recovery in their earnings the independent Resolution Foundation said today. Official figures from the Office for National Statistics showed that average wages (excluding bonuses) rose 1 per cent comparing May to July 2013 with the same period a … Continued READ MORE
Labour market Number earning below the Living Wage has soared during downturn to almost 5 million 4 September 2013 Economic downturn has pushed a further 1.4 million employees below the Living Wage – the rate deemed necessary for a basic standard of living – a report reveals today. Low Pay Britain 2013 , published by independent think tank the Resolution Foundation, shows that 4.8 million Britons (20 per cent of all employees) earn below … Continued READ MORE
Labour market National scandal of care workers illegally paid £5 an hour 29 August 2013 Some care workers are being paid as little as £5 an hour – well below the legal minimum wage – reveals a new report today from independent think tank the Resolution Foundation which describes the practice as a “national scandal”. The study shows that while headline pay rates for care workers who visit clients at home … Continued READ MORE
Labour market ‘Naming and shaming’ employers who defy the minimum wage is welcome but not enough 23 August 2013 Vidhya Alakeson, Deputy Chief Executive of the Resolution Foundation, said: “Ministers deserve credit for highlighting the scandalous treatment of low-paid workers who are deprived of their entitlement to the minimum wage. More ‘naming and shaming’ of employers who defy the minimum wage is welcome but this only takes a small bite out of a big … Continued READ MORE
Labour market London’s employment rate bounces back but large parts of UK still show yawning “jobs gap” 1 August 2013 Employment rates remain well below their pre-recession levels in many parts of the UK despite increasing economic confidence, new Resolution Foundation analysis has found. Figures from the independent think-tank show that only in London has the share of the adult population which is employed returned to close to the levels seen in early 2008 – … Continued READ MORE
Housing Poorer families excluded from at least a third of Britain by high rents, new report reveals 15 July 2013 One third of Britain is effectively off-limits to lower-income working families looking to rent a home privately because they can no longer afford a property in those parts of the country. An alarming new report from the Resolution Foundation, the first to give a comprehensive assessment of where less affluent families can reasonably afford to … Continued READ MORE
Housing Perilous debt levels could push households to the brink if interest rates rise faster than expected 1 July 2013 The number of families in Britain with perilous levels of debt repayments could more than double to 1.2 million if interest rates rise faster than expected in the next four years and household income growth is weak and uneven, according to new Resolution Foundation analysis. The figures suggest that the ongoing squeeze on households could … Continued READ MORE
Economy and public finances Tough spending decisions tee up more pain still to come 26 June 2013 Today’s Spending Round means a number of key non-protected Government departments will see brutal cuts to their total budgets of between roughly one-fifth and over a half between 2010 and 2015. Yet on current plans today’s reductions tee up even steeper falls still to come, according to analysis from the Resolution Foundation. We aren’t yet … Continued READ MORE
Labour market Zero hours contracts see workers earn 40 per cent less finds new report 25 June 2013 A new study shows that people employed on zero-hours contracts – which do not guarantee any hours of work – are paid less than those working set hours. The study shows that zero-hours workers earn on average £9 an hour (gross) compared to £15 an hour for those with more conventional contracts. Among graduates, the … Continued READ MORE
Labour market Resolution Foundation reaction to continued earnings squeeze 12 June 2013 The squeeze on earnings has entered its 40th straight month, independent think tank the Resolution Foundation said today. Data from the Office for National Statistics showed that Average Weekly Earnings (excluding bonuses) grew by 0.9 per cent between February and April compared to a year ago and now stand at £447 a week. The increase … Continued READ MORE
Welfare ‘Age-blind’ approach of Universal Credit risks missing opportunity of older workers 28 May 2013 Britain is missing a crucial opportunity to encourage more older people into work because the government’s new flagship welfare reform delivers only mixed benefits for the age group warns a new study from independent think tank the Resolution Foundation. While many older workers will be better off under Universal Credit (UC) – the system replacing … Continued READ MORE
Labour market UK jobs recovery drifts further away 28 May 2013 The prospects of a full recovery in employment are weakening as the pace of job creation slows, according to new analysis from independent think tank the Resolution Foundation. Even under the most optimistic assumptions it will now be more than four years before the UK restores the employment rate of 2008—with central projections suggesting a … Continued READ MORE
Housing A quarter of lower-income working families spend more than they can afford on housing 16 May 2013 At least 1.3 million families on lower incomes have to spend more than they can reasonably afford on housing the Resolution Foundation reveals today. The figure represents almost one in four of the 5.6 million low-to-middle income households of working age in Britain. At a time when a severe shortage in property supply is pushing … Continued READ MORE
Labour market Plummeting pay takes average wages back to the millennium 15 May 2013 Average wages are now back to a level last seen in November 2000, adjusting for inflation, according to new analysis by independent think tank the Resolution Foundation. The finding comes as official figures show earnings growth at a record low for the second month in succession. The bad news on wages, combined with another set … Continued READ MORE
Economy and public finances Britain divided over whether future growth will improve living standards 29 April 2013 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, according to a new polling report for the Resolution Foundation. The analysis, “2015- the living standards election?”, gives a unique insight into what voters think that … Continued READ MORE
Economy and public finances Nearly half of Britons expect a further drop in living standards by the next general election 24 April 2013 Almost half the British public expect to be worse off by the time of the next election in 2015 than they are now, reveals a major new polling project from the Resolution Foundation. In addition, much of the electorate is expecting the rest of this decade to be characterised by slow growth with more than one … Continued READ MORE
