Analysis and action on living standards
A New Economic Strategy for Britain
With neither of the main parties wanting to scrap Universal Credit, whoever wins the election will be governing a ‘Universal Credit Britain’, as the final stage of what has been the biggest benefit reform in a generation is due to end with a system covering 7 million families by 2029. This note assesses how the current Universal Credit system compares to the legacy benefit system it is replacing, and how changes in the country over the last decade have altered its impact.
The Resolution Foundation is an independent think-tank focused on improving living standards for those on low to middle incomes. We work across a wide range of economic and social policy, combining our core purpose with a commitment to analytical rigour.
With many more families in the UK now renting, and renting for longer, the rising cost of doing so poses a significant challenge to living standards. While rental-price growth for new tenancies is set to continue to ease in the coming months, many renters will still see their housing costs rise over the coming years, as the high market rates we’ve seen filter through the private-rental sector.
The beginning of April brings a new tax year, and a flurry of tax, benefit and pay policy changes coming into effect. But these changes will create a mix of winners and losers, depending on how much you earn, how old you are, and where you live.
The Resolution Foundation calculates the real Living Wage – a voluntary hourly pay rate that is based on what families need to get by. The current national rate is:
Resolution Ventures exists to back innovative start-ups seeking to change the world of work for the better and early-stage ventures seeking to improve the prospects of low-to-middle income Britain.
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How living standards have changed for younger generations
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