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The Latest Breaking News from Resolution Foundation

Cost of living crisis hitting economic outlook as firms hike prices – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Cost of living crisis: Lack of support will push 1.3 million into absolute poverty, economists warn

The chancellor left the poorest households ‘painfully exposed’ in his Spring Statement, the Resolution Foundation has said

The Independent UK

1.3MILLION Brits set to be dragged into absolute poverty in Spring Statement disaster

The Resolution Foundation think tank said the typical working age household will see their real income fall 4% next year, casting millions into absolute poverty including 500,000 kids

Daily Mirror

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'Lack of support for poor in Sunak's mini budget is indefensible amid costs crisis'

Torsten Bell, chief executive of the Resolution Foundation, writes in the Mirror on Chancellor Rishi Sunak's 'badly designed' mini budget policy package with an 'indefensible' lack of support for the poorest households with incredibly difficult times ahead

Daily Mirror

Higher benefits uprating should be the Chancellor’s ‘top policy priority’

Analysis by the Resolution Foundation outlines a trio of support options which could be taken by Chancellor Rishi Sunak on Wednesday.

The Independent UK

Millions of households set to lose £1,000 income over next 12 months when new tax year starts

The Resolution Foundation is calling on Rishi Sunak to increase DWP benefits by 8.1% in his Spring Budget.

Daily Record

Cost of living for UK’s poorest could be 10% higher by autumn, thinktank warns

Resolution Foundation says prolonged Russian invasion of Ukraine would drive up food and energy prices

The Guardian - UK

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Families to be £1,000 worse off as 'biggest income squeeze since 1970s' hits

Many families are already expecting their monthly expenses to go up in line with the energy price cap and national insurance increase, but the Resolution Foundation has now warned the Ukraine conflict will push living costs even further

Daily Mirror

UK faces worst drop in living standards since 1970s, economists warn

Households will see incomes drop by £1,000 on average in the next financial year, according to a new analysis from the Resolution Foundation think tank

The Independent UK

UK household incomes facing biggest decline since mid-70s, says thinktank

Resolution Foundation warns record-high energy prices amid Ukraine war could lead to hit worth £1,000 per household

The Guardian - UK

Households ‘could be facing worst real incomes squeeze since 1970s’

Non-pensioner households could see real incomes fall by typically £1,000 in 2022/23 compared with previous year, the Resolution Foundation estimates.

The Independent UK

Six million families hit by £320 'leaky home surcharge' when energy bills rise next month

The Resolution Foundation warned that Brits living in poorly insulated homes would be clobbered by rising energy bills next month

Daily Mirror

Many UK exporters say Brexit trade deal hurts business; price rises loom; US jobless claims rise – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Tax wealth to pay for ageing UK population, says thinktank

Public spending will rise by £76bn a year, requiring income and wealth to be taxed more efficiently and fairly

The Guardian - UK

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Edinburgh Live

Energy bill rise: 7 small print details showing families could face further increase

Many people are worried about paying for their bills amid a rise in food shopping, transport costs and their energy bills. However although many want good news, small print shows people could face a further increase.

Daily Mirror

Energy bills price cap: 8 nasty details in small print as average family £1k worse off

Rishi Sunak has announced £350 of help with energy bills after the price cap soared - but Britain is still facing a huge cost of living crunch, experts warn there are gaps in the small print, and the poorest could lose out

The Guardian - UK

No 10 implicitly rebukes Bank of England chief over wage restraint call, amid unions anger – as it happened

Rolling coverage of the latest economic and financial news

Evening Standard

Cost Of Living Crunch Day

Today was, in the words of Resolution Foundation’s Torsten Bell, “Cost of living crunch day.” We had Ofgem’s announcement of the energy price cap rise. Expect to come across phrases such as ‘unprecedented’, ‘eye-watering’ and parents across the land beseeching their children to close the front door.

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The Independent UK

Less than a third expect to receive an inheritance, report finds

Just 32% of people have benefited or expect to benefit from an inheritance or gift in their lifetime, according to the Resolution Foundation.

The Guardian - UK

Young people who lost jobs in pandemic in UK ‘returning to insecure work’

Resolution Foundation thinktank report says third of ‘returners’ on temporary or zero-hours contracts

The Guardian - UK

UK could gain ‘first-mover’ advantage with India trade deal

Resolution Foundation report also highlights risk of British firms being undercut by lower cost rivals

Daily Mirror

DWP: Unemployment benefits 'will hit lowest real value in three DECADES' this April

The Resolution Foundation said unemployment benefits have fallen far behind the growth of child or housing benefits since WW2, with people who aren't eligible for top-ups pushed 'near to destitution'

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