The UK’s net zero transition will have a major impact on our industrial mix and labour market. While the majority of new ‘green jobs’ are likely to be spread thinly across the UK, some local areas – particularly in the North of England and Scotland – will be much more acutely affected by the transition. How this is managed, and the effect on local living standards, is highly uncertain however – the replacement of old jobs with new ‘green’ ones, or the development of new low-carbon workforces, won’t happen overnight. To better understand the local impact of the UK’s net zero transition, the Foundation has spent the past six months diving deeply into two areas that will be at the heart of this change – Aberdeen and Grimsby. Will Aberdeen ever be able to replicate the oil-based riches of past decades? How can Grimsby maximise the clean energy opportunities taking place in and around the town? Where should net zero sit in the Government’s industrial strategy and in its push for more devolution? And what is the likely impact on living standards? Read the research here: https://www.resolutionfoundation.org/publications/second-wind/
In recent decades, fiscal policy in the UK has delivered the worst of all worlds. Satisfaction with key public services has fallen, taxes are at a record high, and yet levels of debt – and the cost of servicing it – have still shot up. Successive Prime Ministers and Chancellors have failed to face up to the true state of Britain’s public finances. The task now falls to PM-in-waiting Andy Burnham and whoever his Chancellor may be. If they fail to rise to the challenge, the trade-offs on public services, taxes and benefits will get very painful. How does Andy Burnham’s inheritance compare to his predecessors? What have been the biggest mistakes of fiscal policy in recent decades? Where is the UK’s debt trajectory heading if current tax and spend decisions continue? Is growth the only possible escape route? What kind of policies should the new PM and Chancellor consider to get the public finances on a healthier footing? Read the report here: https://www.resolutionfoundation.org/publications/the-great-escape/
For the first time in over a decade, over a million young people across Britain are not in employment, education or training. The causes of the crisis are myriad and complex, but at least one of the ways out of it is straightforward – businesses need to be incentivised to take on more young people. However, these incentives could take many forms, and finding the right hiring solutions is a crucial issue being explored by Alan Milburn’s Review into young people and work. What is really holding businesses back from hiring young people today? Is it high labour costs, a lack of appropriate skills, or are other barriers at play? What kinds of incentives have worked best in other countries? Are wage subsidies more effective than tax cuts? And how much might a bold new package for employers cost? The Resolution Foundation is hosting an in-person and interactive webinar to debate and answer these questions, featuring a keynote speech from Alan Milburn. Following a presentation of the key highlights from new Resolution Foundation research, we will also hear from leading employers and experts on how businesses can be incentivised to take on more young people.
Ten years ago, the UK voted to leave the EU – a decision that was always bound to cause significant economic disruption. But it’s far from the only big economic shock we’ve experienced since – from pandemics to trade wars and now the AI revolution. While many will spend this anniversary looking backwards, it’s just as important to look forward and consider how we can navigate economic change in the decade ahead. How has the UK’s trade in goods and services changed over the past decade, and how much is down to Brexit compared to other global shifts? How has the UK fared compared to its G7 peers? What does the past decade of economic change mean for the future of the UK’s industrial strategy? And are there strengths to leverage, as well as weaknesses to defend? The Resolution Foundation has hosted an in-person and interactive webinar to debate and answer these questions. Following a presentation of new research marking ten years since the Brexit vote and just over five years of the Trade and Cooperation Agreement, we will hear from leading experts on at the scale of economic change the UK has experienced over the past decade and how to boost growth over the next ten years. Listen to High Resolution, our main podcast, here: https://open.spotify.com/show/5f5tUJPYEowcKhNS7cnZLY
We spend a lot of time thinking about money, but almost no time thinking about how odd it actually is. No other abstract concept plays such a significant role in our everyday lives, with this system built entirely on trust. The Bank of England, as the guardians of Britain’s money, have for the first time written a book about how it makes the world go round – and what happens when it breaks down. In their new book Money: The Inside Story, economists Rupal Patel and Jack Leslie pull back the curtain on how money is supposed to work, what happens when it doesn’t, and where it might be going next. How is money created? What happens in a crisis? And what might new technologies mean for the future of money? The Resolution Foundation has hosted an event to mark the launch of Jack and Rupal’s new book. Joining them on stage will be acclaimed author, journalist and co-host of the hit new FT Podcast The Story of Money Gillian Tett, who can shed light on how money has shaped history and taken down even the sharpest minds. Listen to High Resolution, our main podcast, here: https://linktr.ee/highresolutionpodcast