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The Latest Breaking News from Resolution Foundation

British workers ‘£11,000 worse off a year’ as wages fail to keep up with costs

Resolution Foundation says typical UK household income has fallen further behind Germany, with the gap at £4,000

The Independent UK

Labour threatens pension tax raid that ‘will hit millions’

Reversing abolition of lifetime cap could throw back-to-work plans into chaos, experts warn

The Telegraph

Budget ‘could bring disability benefit reform to push people back to work’

Jeremy Hunt will reveal Spring Budget on 15 March as country battles soaring inflation, rising interest rates and high food prices

The Independent UK

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Chancellor urged to reform childcare and stop urging over-50s to unretire

UK risks ending decade with worst labour participation rate since 2001 unless action taken, says thinktank

The Guardian - UK

Mothers, older workers and disabled people hold the key to getting Britain back to work, think tank argues

830,000 more adults have left the workforce since the start of the pandemic than have joined it

The Independent UK

Wealthy Professionals Are Driving UK’s Early Retirement Crisis

An exodus of rich professionals from jobs is driving Britain’s crisis of low participation in the labor market, according to new research that lays bare the challenge of plugging widespread worker shortages.

Bloomberg

Energy bills to rise by 20% from April despite wholesale gas prices tumbling by 70%

Struggling households will see average bills rise from £2,500 to £3,000 a year in the spring after the Tories decided to cut subsidy levels under the Energy Price Guarantee

Daily Mirror

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We’ve avoided recession for now, but the outlook is one of perma-gloom

December’s GDP was boosted by us all cranking up the heating. Actual economic growth has not looked so weak in decades

The Guardian - UK

Wednesday briefing: A guide to the numbers behind the strikes

In today’s newsletter: With almost 500,000 workers expected to walk out today and months of industrial action ahead, here’s a look at the scale of the issue and the impact of real pay cuts

The Guardian - UK

Home buyers target flats over houses in these top London and commuter towns

There has been a jump in demand for flats in London compared to this time a year ago, largely due to a combination of buyers returning to cities and rising rents.

Evening Standard

Many working age households ‘behind on or struggling with housing costs’

A new survey found that nearly half (48%) of social renters reported being unable to afford to replace electrical goods, or switch the heating on when needed

Wales Online

44% of working age households ‘behind on or struggling with housing costs’

The cost-of-living squeeze is having profound impacts on their household budgets and wellbeing, the Resolution Foundation said.

The Independent UK

Reforms needed to encourage more people to save, says think tank

The struggle to save is a particular problem for low to middle-income households, the Resolution Foundation said.

The Independent UK

'Worst yet to come' for families struggling with cost of living

After housing costs, the typical income for a working age family is set to drop by 3% in the year to the end of March

Wales Online

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The Guardian - UK

UK household income likely to fall by £2,000 a year, says thinktank

Resolution Foundation says UK only halfway through two-year cost of living crisis, with only very richest likely to see income rise in 2023-24

The Independent UK

Worst yet to come for families struggling with cost of living, think tank warns

After housing costs, the typical income for a working age family is set to drop by 3% in the year to the end of March.

Daily Mirror

UK only halfway through cost-of-living income squeeze - with worst to come

The bleak analysis from the Resolution Foundation think tank suggests the typical household will see their disposable incomes fall by £2,100 over a two-year period

The Guardian - UK

Mortgage payers face squeeze in 2023 after UK interest rate rises

Wealthy, older people who own home outright will avoid higher costs and benefit from better return on savings

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Al Jazeera

Disabled people in UK unable to afford heating, food: Report

Soaring inflation has forced disabled people already beset by lower incomes to cut back on essentials, study says.

The Independent UK

48% of disabled adults have had to cut back on energy use, think-tank finds

Around two-fifths of people with a disability said they could not afford to keep their home warm, the Resolution Foundation said.

Daily Record

Cost of living warning to families as household incomes predicted to fall again this year

The financial squeeze is set to make 2023 a ‘groundhog year’ for many families.

Wales Online

'Groundhog year' as cost of living crisis set to continue

Inflation may ease and interest rate rises peak lower than feared, but the cost-of-living crisis will deepen to make families suffer

The Independent UK

Families facing ‘groundhog year’ as financial squeeze continues – think-tank

Family finances face a repeat of 2022’s squeeze as the cost-of-living crisis deepens, the Resolution Foundation has warned.

Daily Mirror

Families brace for 'groundhog year' as energy bills to soar by £900 and pay drops by 4%

Think-tank the Resolution Foundation warned incomes are set to fall by 3.8% in its New Year outlook, while the typical household energy bill is set to rise to £2,450 from £1,550

Daily Mirror

50,000 parents could face higher tax rates of up to 96% – are you one of them?

More families with children look set to face effective tax rates of between 80% and 96% due to the complicated and "colliding" rules of Universal Credit and Child Benefit

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