Resolution Foundation

A report by the Resolution Foundation found that the UK's regional household income divide has remained largely unchanged over 30 years, despite government promises to address it. The gap between the richest and poorest areas has been consistent since 1997, highlighting challenges for Andy Burnham, the prime minister-in-waiting.

The Resolution Foundation advises against reversing UK employment tax increases to boost youth employment, advocating instead for increased funding for apprenticeships and youth support grants. A study by the thinktank found that cutting employers’ national insurance contributions and reducing the minimum wage for under-21s would have minimal impact on job prospects for younger workers.

Gen Z workers at age 24 earn more than millennials did at the same age, according to research by the Resolution Foundation. The study indicates a financial rebound for Gen Z compared to previous generations, with their earnings surpassing any cohort since those born in the 1950s.

The UK has the third-highest rate of young people not in education, employment, or training (Neets) among Europe’s wealthiest nations, with nearly 1 million 16-24-year-olds affected. The Resolution Foundation attributes this crisis to rising ill-health and inadequate benefits and job support systems.

The Resolution Foundation warns that UK households will face a £480 financial hit this year due to rising energy and fuel costs linked to the Middle East war. Higher gas, electricity, and petrol prices are expected to significantly impact living standards, with the thinktank highlighting the economic strain on families.