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The Latest Breaking News from Resolution Foundation

‘Massive spending cuts will still be needed’ despite Chancellor’s U-turn

Think tank experts said the Government’s mini-budget plans will still leave the UK’s public finances on an unsustainable path.

The Independent UK

Solemn 'no cuts' promise Liz Truss made 3 months ago - that she's now set to break

This morning Chancellor Kwasi Kwarteng refused to rule out a return to Tory austerity after a humiliating tax U-turn - but in July Liz Truss unequivocally told The Mirror that her plans would not involve slashing services

Daily Mirror

Iceland boss wants Universal Credit to rise £20 a week to help struggling Brits

Richard Walker told a fringe discussion at the Conservative Party Conference in Birmingham that Kwasi Kwarteng's mini-budget did not do enough to help those on low incomes, and called for the £20 Universal Credit uplift to be reinstated

Daily Mirror

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Government may consider benefits cut to help fund tax breaks for rich, economists warn

Huge ‘unforced error’ set to push Britain back to George Osborne-era cuts, says think tank

The Independent UK

Liz Truss's Tories plot return to austerity with 'no mandate whatsoever'

LIZ Truss has been told she has “no mandate whatsoever” to impose a new wave of austerity in order to fund her sweeping tax cuts for the rich.

The National (Scotland)

Liz Truss faces mutiny from Tory MPs after plans to snatch £1,000 from hard-up families

Tories yesterday said it would be 'untenable' and 'unconscionable' for ministers to go back on a promise to increase benefit payments in line with inflation next year

Daily Mirror

Universal Credit and other DWP benefits face real-terms cut next year

Experts say the move will cost the average family £1,000 a year

Wales Online

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Bombshell polls throw massive question mark over Liz Truss’s future as PM

Tory meltdown after ‘unforced error’ Budget gifts Keir Starmer leads of up to 33 points

The Independent UK

‘Return to austerity’: Almost £50bn of cuts needed to fund tax breaks for rich, economists warn

Huge ‘unforced error’ set to push Britain back to George Osborne-era cuts, says think tank

The Independent UK

Truss’s go-for-broke gamble means Labour inherits economic mess if it wins election

Vote is there to be lost by Labour. How hard can it be to show party would do a better job on economy?

The Guardian - UK

Liz Truss kissing goodbye to Red Wall with tax cuts, MPs fear

The £35billion package included the abolition of the top rate of income tax, a cut in the basic rate, a reduction in stamp duty, the cancellation of the National Insurance increase and the scrapping of the rise in corporation tax from 19pc to 25pc

Evening Standard

How homes in the South will gain three times as much than the North after UK tax cuts

Chancellor Kwasi Kwarteng unveiled his mini-Budget on Friday - in which he addressed tax cuts on Stamp Duty, which experts believe will only benefit those living in the South of the United Kingdom

Chronicle Live

Red wall seats are being put at risk by ‘cavalier’ tax cuts, Liz Truss warned

Tories are nervous of the ‘song and dance’ about doing more for high earners and the shift away from levelling-up

The Guardian - UK

Mini-budget benefits London and south-east England, study shows

Analysis by Resolution Foundation shows 95% of UK population will be worse off after chancellor’s actions

The Guardian - UK

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Manchester Evening News

Government dismisses criticism of tax cuts as ‘politics of envy’

It comes as Chancellor Kwasi Kwarteng unveiled the biggest programme of tax cuts for 50 years

Daily Mirror

How homes in South will gain THREE TIMES as much as those in North from tax cuts

Chancellor Kwasi Kwarteng yesterday unveiled his mini-Budget which included tax cuts on Stamp Duty, which experts believe will only benefit those living in the South of Britain

Wales Online

Government says tax cuts flack is 'politics of envy'

Labour accused PM Liz Truss and Chancellor Kwasi Kwarteng of dabbling in 'casino economics'

The National (Scotland)

'Richest 5 per cent to get richer while 95 per cent get poorer' under Tory plans

THE Tory government's huge package of personal tax cuts amid the cost-of-living crisis will do nothing to stop more than two million people falling…

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Wales Online

‘Only the very richest’ in Britain will see incomes grow, tax cut analysis says

Chancellor's huge package of personal tax cuts will do nothing to stop more than two million people falling below the poverty line, says think tank

The Guardian - UK

Kwarteng accused of reckless mini-budget for the rich as pound plummets

Strategy of sweeping tax cuts gets hostile reception from markets and economic thinktanks, leaving some Tory MPs aghast

Daily Mirror

All the ways mini-Budget hands thousands to the rich - and pennies to the poor

This is a Budget for the rich - with £1m earners getting £55,000 while £25k earners get £283. We take you through all the ways the Income Tax, National Insurance, Stamp Duty and other tax cuts help the better-off

The National (Scotland)

Inflation dips slightly but experts warn cost-of-living crisis is not easing

The consensus across think tanks and economic networks is that this was "entirely driven by falling transport costs" as the prices of food…

Manchester Evening News

Fears 'seven out of 10 pubs won't make the winter' without urgent support to combat energy cost crisis

Hospitality businesses 'sat in limbo' ahead of funding plan

The Independent UK

Truss plans ‘skew support’ to richest households, warns Resolution Foundation

There is a case for a ‘solidarity tax’ to recoup some of the cost from those who can pay more, said the think tank.

Daily Record

Liz Truss plans to tackle cost of living 'will benefit rich households most'

The new Prime Minister last week announced that typical household energy bills will be limited to £2,500 per year until 2024.

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