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The Latest Breaking News from Resolution Foundation

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

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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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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 Guardian - 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.

The Independent UK

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

Daily Mirror

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

The Guardian - UK

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.

Al Jazeera

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.

The Independent UK

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.

Daily Record

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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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Daily Mirror

Major review of taxes including child benefit for two million families is quietly axed

Sources confirmed doomed Kwasi Kwarteng's Treasury review to make taxes 'better for families' is dead in the water under Rishi Sunak's leadership because events have overtaken it

Nottingham Post

DWP Universal Credit and child benefit 'tax trap' could mean households pay up to '96% tax'

Experts say 90,000 people are set to be caught out by 2030

The Guardian - UK

The Observer view on fuel poverty measures freezing out poorest Britons

New analysis reveals the least affluent need urgent government support this winter

The Guardian - UK

The British people ‘just got a lot poorer’, says IFS thinktank

UK has scored ‘a series of economic own goals’, Institute for Fiscal Studies says after autumn statement

The Guardian - UK

Hunt’s budget will mean 19 years of wage stagnation, warns thinktank

Resolution Foundation says had wages grown at the same rate as before 2008, annual pay in 2027 would have been £15,000 a year higher

Daily Mirror

Worst-hit families will be hit with £2,000 energy bill rise as taxes soar, study finds

New research by The Resolution Foundation also found that workers are £15,000 worse off a year on average because of an unprecedented wage downturn which will see salaries drop to 2008 levels for the next five years

Evening Standard

Jeremy Hunt slams Tory MPs attacking tax rises: ‘Nothing Conservative about ducking difficult decisions’

Chancellor hits back at MPs attacking his £24 billion of tax rises

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