Resolution Foundation Podcasts

The cost of living crisis has not only dragged on longer than anyone hoped, it has evolved. As the focus has moved from energy bills to food prices, alongside rising rent and mortgage costs, the impact on different groups has changed. It will change further in the run in to a 2024 general election, with significant uncertainty about how far unemployment might rise and whether inflation will remain stubbornly high. How has the cost of living crisis evolved over the past 18 months? How have different households been affected? What is the outlook for household finances in the run up to the next election, and which issues are likely to move centre stage? And how will this affect British politics in that pre-election year? The Resolution Foundation is hosting an in-person and online event to debate and answer these questions. Following a presentation of the key highlights from our latest Living Standards Outlook, we will hear from leading experts on what the prolonged living standards squeeze means for households

Nationally set minimum standards – from the minimum wage to holiday pay – make a real difference to the quality of low-paid work. But these reforms can only go so far. Many problems in the world of work are concentrated in specific sectors, from social care to logistics. And even when problems are shared – such as a lack of training – the answers to address them may be different. While the UK has not seen innovation in labour market institutions for decades, other countries with similar labour markets – from New Zealand to the US – have begun exploring new routes to improving the quality of work. Are there challenges with areas of lower-paid or lower-quality work that cannot be addressed by national regulations? To what extent do unions and potential new labour market institutions covering specific sectors offer routes to better work? What can we learn from other similar countries – from Ireland to New Zealand – that have done more experimentation? And what route should the UK take to delivering a good work a

Britain has experienced a 30-year wealth boom, driven by record low interest rates, causing unprecedented levels of intergenerational inequality. But this has now been brought to an abrupt end, with the Bank of England embarking on the tightest rate-raising cycle since the early 90s – causing mortgage costs to rise, house prices to fall and pension valuations to crater. What are the wider economic effects of rising rates and falling asset prices? To what extent might the pinch being felt by middle-aged mortgagors be offset by gains for young perspective first-time buyers and older generations reliant on savings? And with the long-term outlook for interest rates uncertain, should policymakers take action to mitigate the social consequences of Britain’s changing wealth landscape? The Resolution Foundation is hosting an in-person and interactive webinar – as part of our ongoing wealth across Britain project, in partnership with the abrdn Financial Fairness Trust – to debate and answer these questions. Following

Britain is stagnating. Productivity growth is flatlining, workers today are earning the same wages as their predecessors in 2007, and living standards growth had slowed to a crawl even before today’s cost of living crisis. So we need a clear strategy for returning to rising, and widely shared, prosperity. Against that backdrop, it is important to understand what a return to growth will, and will not deliver. Some doubt that a return to growth is possible, while others question if it is even desirable – arguing that productivity growth doesn’t raise the wages of ordinary workers. Beyond growth, the roles of policies to redistribute (including through the benefits system) or predistribute (with a more equal sharing of rewards from the labour market) are hotly debated. Does productivity growth boost ordinary workers’ pay packets? Would a return to rising wages help reduce inequality or drive it higher? Should policy makers focus on raising employment rates and the minimum wage, or on changes to the benefit syste

Professor Silvana Tenreyro has been an External Member of the Bank of England’s Monetary Policy Committee (MPC) since July 2017. In her final speech as an MPC member, she will look back on some of the key events during her tenure. In a space of less than three years, the UK economy has been subject to two once-in-a-generation shocks, the pandemic with its aftereffects and the large increase in energy prices stemming from the war in Ukraine, which have increased inflation well above its 2 per cent target. She will discuss the UK’s inflation targeting framework, and what policymakers can do to ensure its credibility in the face of such large inflationary shocks. The speech will focus on different aspects of policymaking and credibility: including the role of inflation expectations; central bank models and forecasts; and policy communications. Silvana will also discuss where her views have evolved over her six years on the MPC. She will touch on differentiating between temporary and persistent influences on infl

Britain’s tax take has risen to a 70 year high. And while the pre-election clamour for tax cuts is growing, higher debt payments, struggling public services and tight fiscal rules mean taxes are just as likely to go up as down. But this rising quantity of tax revenue has not been matched by a rising quality of tax policy. The system is a mess, with frequent fudges rather than reform, resulting in businesses unsure how their profits will be taxed. Some people are paying much higher tax rates than others with similar income levels. Our tax system is deepening, rather than helping resolve, some of the biggest challenges the UK faces – from housing to net zero. This needs to change if Britain’s taxes are to be fit for the decade ahead. Should we expect higher taxes to last? Can higher taxes be better taxes – and what are the priorities for reform? How much difference could this make to the twin challenges of raising growth and reducing inequality? And do we need to rebalance our priorities between taxing labour,

Britain is in relative decline, as productivity and wages stagnate. This reflects a decade of shocks but also a longer lasting problem – Britain has spent recent decades living off its past rather than investing in its future. In both public and private investment the UK consistently lags behind its international peers, leaving British workers with less kit to work with, and fewer British firms competing at the cutting edge. Ensuring firms want to invest, and making sure they are able to do so, is therefore fundamental to our hopes of an economic revival. Both main parties recognise this task, but their focus on changes to corporation tax or promises of a more stable period of government are unlikely to deliver the scale of change required. Why are so many firms reluctant to invest in their, and Britain’s, future? Are firms held back because returns on investment are low, or because finance is unavailable? What reforms – from corporate governance to pensions, taxation and planning – might move the dial? And i

Materials matter. They have been critical in shaping the path of human history, from the innovations we create to the relationships between nations. This has always been true from iron in the 19th Century to lithium that powers our smartphones today. But changing international dynamics – driven by shifting geopolitics, the recent energy crisis and the net zero transition – have the potential to put access to materials at the forefront of economics, politics and international relations. In his new book – Material World: A Substantial Story of Our Past and Future – Ed Conway examines how six key substances have built our world, have the potential to transform our future, and the risks that reliance on these resources pose. To mark the launch of the book, the Resolution Foundation is hosting a book launch at its Westminster office, as part of The Economy 2030 Inquiry, funded by the Nuffield Foundation. The panel will discuss how we can balance our need for these resources with tackling climate change and managin

Brexit was a seismic break for the UK, not least in bringing to a close a decades long trade strategy focused on integration with European markets. Since then the Government has successfully rushed to sign as many trade agreements as possible, but these largely roll over arrangements inherited from EU membership, with little prospect of further significant trading ties. It is far from clear what comes next — what a lasting post-Brexit trade strategy for the UK might be that recognises both our economy’s strengths and the wider global trade landscape, where geopolitics is playing an increasing role. What are the priorities for the UK’s trade strategy now that the heat of Brexit negotiations have cooled, but global trade tensions are heating up? How should that strategy be integrated into a wider economic strategy for Britain? Which balance should be struck between a European or global focus? And can Britain protect manufacturing industries such as automotives, which are highly integrated into European supply c

Technological innovations – from new agricultural machinery to industrialisation and the invention of the computer – have powered economic progress over the past 1,000 years. But technological leaps do not automatically lead to living standards improvements, and can instead cause economic disruption and pose threats to workers. As we stand on the precipice of a possible AI revolution, and desperately need a step change in our economic growth prospects, what can we learn from history about how to ensure that the next wave of technological progress feeds through into better living standards and higher wellbeing for citizens? A ground-breaking new book – Power and Progress: Our Thousand-year Struggle over Technology and Prosperity by leading academics and authors Daron Acemoglu and Simon Johnson – answers this critical question through an examination of previous chapters of technological change. The authors set out what this experience suggests for today’s policy makers and citizens as they grapple with the impl

The UK is decarbonising its stock of cars quicker than most people expected – last year there were over a million Electric Vehicles (EVs) on our roads. This is great news for both people and the planet, as EVs are cheaper and cleaner to drive. But this transition presents challenges too – not least to the £32 billion of annual tax revenue collected from vehicles. How can policy makers encourage the switch to EVs in a way that doesn’t land the Treasury with a fiscal hole, or low and middle income families with unfair tax bills? Are there tensions between decarbonising and decongesting our roads? And how can we build political support for vital – but contentious – reforms to road taxation? The Resolution Foundation is hosting an in-person and interactive webinar – as part of The Economy 2030 Inquiry, funded by the Nuffield Foundation – to debate and answer these questions. Following a presentation of highlights from major new research on reforming road taxation, we will hear from leading experts on how to make

In a services-based economy like Britain, its cities should be leading its economic growth. But in fact England’s major cities outside London are actually less productive than the national average, and many have struggled to adjust to our post-industrial landscape. This is a common challenge for many cities in western economies. But while some cities have been left behind, others – from Lille to Dortmund, Bilbao to Pittsburgh – have turned around their economies and forged ahead. How have industrial cities around the world successfully responded to major economic change and disruption? What policy lessons are there for cities across Britain? And what role should cities play in a new economic strategy for Britain? The Resolution Foundation is hosting an in-person and interactive webinar – as part of The Economy 2030 Inquiry, funded by the Nuffield Foundation – to debate and answer these questions. Following a presentation of the key highlights from a new Navigating Economic Change essay on eight turnaround cit

Book launch event for We Need to Talk About Inflation by Stephen King From investors and academics, to governments and central banks, almost everyone had assumed high and persistent inflation was dead and buried. But with inflation having soared to double-digits, people the world over are confronting a new economic reality of surging prices. Reflecting on six key lessons from across the history of inflation, Stephen King’s new book We Need to Talk About Inflation examines the political and social upheaval it can cause and proposes ways for policymakers to avoid repeating the failures of the past. What are the causes of today’s inflation surge? How worried should consumers and policymakers be about persistently high inflation? And how should fiscal and monetary policy makers respond? To mark the launch of Stephen King’s new book, the Resolution Foundation is hosting a launch at its Westminster office. Stephen will be joined by leading macroeconomic expert Silvia Ardagna for a discussion on the outlook for infl

The UK’s cost-of-living crunch has entered its second year. While inflation should fall significantly in the coming months, the crisis is far from over. Prices are rising more slowly rather than falling. And the significant government support provided last year is being scaled back, while fast rising interest rates will affect more and more homeowners in the months ahead. Many people have used savings or support from friends and family to cope with the crisis so far – but this support is finite. How is the cost-of-living crisis evolving as it enters its second year? How is the squeeze playing out across different families and generations? And what should policy makers be looking out for in the months ahead? The Resolution Foundation is hosting an in-person and interactive webinar to debate and answer these questions. Following a presentation of the key highlights from our latest cost-of-living survey – supported by the Health Foundation – we will hear from leading experts on how the cost-of-living crisis has

Keynote speech by Angela Rayner MP, followed by Q&A with Resolution Foundation Chief Executive Torsten Bell. Debates about raising, or indeed cutting, legal protections for workers are a staple of British politics – with welcome progress including a rising minimum wage driving down low pay. But too often the reality that these rights, rates and rules mean little if they aren’t enforced is forgotten. The systems used to enforce workers’ rights are often fragmented and underfunded, making it harder to identify breaches and deter poor behaviour. It is still far too easy for bad employers to undercut good employers by ducking minimum legal standards. And our focus on individuals to enforce their own rights brings challenges when those most at risk from rights violations are the least likely to report it. The UK needs a new approach to better protect workers and enforce their rights, informed by our own experience but also that of other countries. To what extent do UK firms comply with workers’ rights? How are

Speakers include: Patricia Rice, Low Pay Commissioner; Matt Warman MP, Co-chair of the APPG on the Future of Work; John Kelly, Irish Workplace Relations; Lindsay Judge, Research Director at the Resolution Foundation; and Torsten Bell, Chief Executive of the Resolution Foundation. Debates about raising, or indeed cutting, legal protections for workers are a staple of British politics – with welcome progress including a rising minimum wage driving down low pay. But too often the reality that these rights, rates and rules mean little if they aren’t enforced is forgotten. The systems used to enforce workers’ rights are often fragmented and underfunded, making it harder to identify breaches and deter poor behaviour. It is still far too easy for bad employers to undercut good employers by ducking minimum legal standards. And our focus on individuals to enforce their own rights brings challenges when those most at risk from rights violations are the least likely to report it. The UK needs a new approach to better pr

Speakers include: Kate Roberts, Head of Policy at FLEX; Kate Shoesmith, Deputy CEO of the Recruitment and Employment Confederation; Alan Bogg, Old Square Chambers; Hannah Slaughter, Senior Economist at the Resolution Foundation; and Torsten Bell, Chief Executive of the Resolution Foundation. Debates about raising, or indeed cutting, legal protections for workers are a staple of British politics – with welcome progress including a rising minimum wage driving down low pay. But too often the reality that these rights, rates and rules mean little if they aren’t enforced is forgotten. The systems used to enforce workers’ rights are often fragmented and underfunded, making it harder to identify breaches and deter poor behaviour. It is still far too easy for bad employers to undercut good employers by ducking minimum legal standards. And our focus on individuals to enforce their own rights brings challenges when those most at risk from rights violations are the least likely to report it. The UK needs a new approach

The minimum wage has more than halved the share of low paid workers across Britain over the past two decades. This is a huge success – but it is far from job done. While low-paid workers today earn more, they are too often trapped on short-hours, facing poor working conditions or lacking the advantages higher earners take for granted – from sick pay to control over when they work. Too many jobs are seen as low status, even when they are highly valued. Good work should be a core objective of a renewed economic strategy for the UK – but it will require a new policy agenda, going far beyond the minimum wage, to achieve it. This will bring trade-offs that need to be confronted not wished away: better jobs for some will mean higher prices for others. How much higher can the minimum wage go? What are the top priorities for wider improvements in the quality of work? Who will win, and who will lose, from efforts to spread good work? And what wider changes might a radical strategy to improve the quality of lower paid

The political context in which people grow up can play a hugely influential role in how that age cohort participate in democracy. From the dominance of different political parties and prevalence of strikes and protests, to the distribution of information and ideas through social media, the society people are raised in affects the ways in which they interact with politicians and political ideas. Maintaining an informed and engaged electorate in the decades to come requires grappling with these historical shifts and their implications for democratic governance. Does the historical context of when a generation comes of age affect their political engagement? Are older generations, for example, who came of age in a period when elections were fundamental to the existence of democratic government, more likely to engage with political parties? What about younger generations coming of age in the historical moments that followed? And what can this tell us about how democratic governance and political participation coul

The UK has been under-investing for decades. British business isn’t keen on investing, and the public sector if anything does even worse. Public investment is not only low by international standards, it’s very volatile. Politicians like to announce investment rises, but Chancellor’s also like to cut it when they need to make the fiscal arithmetic add up. Scrapping a bridge tomorrow is always easier than firing a nurse or raising taxes today. But sustained low investment has left us poorer and affected our lives in everything from the healthcare we receive to the homes we live in. Turning this situation around requires radical change to how do such investment, but investing to grow also comes with risks that need to be managed. Why do British governments invest so little? How can we snap out of the cycle of public investment boom and bust? And what would it take to invest better, as well as more? The Resolution Foundation is hosting an in-person and interactive webinar – as part of The Economy 2030 Inquiry, fu