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May 24, 2023 6 tweets 8 min read Read on X
Speaking at our event @DAcemogluMIT says history tells us that there is nothing automatic about technological progress leading to rising shared prosperity. Other forces are need to shape the change we want to see. resolutionfoundation.org/events/shaping… Image
@DAcemogluMIT We (@DrDaronAcemoglu & @baselinescene ) don't have the answers to how we can shape the AI revolution (and don't believe anyone who says they do). But we do know that workers need a voice in shaping the revolution if its to deliver shared prosperity.... Image
@DAcemogluMIT @DrDaronAcemoglu @baselinescene Speaking at our #PowerAndProgress event @DianeCoyle1859 says that are too many examples of where innovation is not serving society well - from food supply to pharmaceuticals. We're our 21st century equivalent of the refrigerator, she asks... Image
@DAcemogluMIT @DrDaronAcemoglu @baselinescene @DianeCoyle1859 On breaking up big tech, @DianeCoyle1859 says that she was proud of the @CMAgovUK for ruling against Microsoft's attempted acquisition of Activision Blizzard. Our regulators need teeth, and the courage to take on powerful firms if it's in the public interest. Image
@DAcemogluMIT @DrDaronAcemoglu @baselinescene @DianeCoyle1859 @CMAgovUK Time for our first Slido poll.

What’s the best way to ensure that the AI revolution brings benefits to workers, and not just firms?

1 Tough regulation of big tech
2 Directly subsidising worker-friendly technologies
3 Stronger worker power
4 None: policy efforts will backfire Image

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More from @resfoundation

Mar 19
The Government’s new Health and Disability Green Paper will deliver tiny income gains for up to four million households, at a cost of major income losses for those who are too ill to work or no longer qualify for disability benefit support. 🧵⤵️
The gains? A boost Universal Credit (UC) support for up to four million families without any health conditions or disability by around £3 a week.

But these are overshadowed by reforms that risk causing major income losses for those too ill to work, or no longer qualify for disability benefits.
The Government plans to save £5 billion through restricting PIP by making it harder to qualify for the ‘daily living’ component.

PIP is a benefit paid regardless of whether someone is in work, to compensate for the additional costs of being disabled.
Read 8 tweets
Mar 11
There are rumours that the Government is looking to cut the benefits bill as it tries to reduce public spending.

But has there been a huge rise in welfare spending in recent years? A quick thread👇
Social security spending rose by around 1% of GDP from the eve of the financial crash to last year, driven by rising spending on the State Pension and non-pensioner health-related benefits.

A rise yes, but hardly ‘huge’. So, is the problem rising welfare spending in the future? Image
The @DWP forecast is in fact for welfare spending to stay flat as a proportion of GDP from now until 2029-30, with forecast rises in spending on health-related benefits offset by the rollout of around £3bn of planned cuts to other non-pensioner benefits. Image
Read 10 tweets
Mar 5
Earlier today the justice secretary pointed to a “huge rise in the welfare budget” as justification for benefit cuts to reduce public spending. So, how big has the rise in welfare spending been? 🧵
Social security spending rose by around 1% of GDP from the eve of the financial crash to last year, driven by rising spending on the State Pension and non-pensioner health-related benefits.
A rise yes, but hardly ‘huge’. So, is the problem rising welfare spending in the future? Image
The @DWP forecast is in fact for welfare spending to stay flat as a proportion of GDP from now until 2029-30, with forecast rises in spending on health-related benefits offset by the rollout of around £3bn of planned cuts to other non-pensioner benefits. Image
Read 10 tweets
May 8, 2024
Since 1997 earnings have doubled, while house prices have increased *4.5 times*.

Our Research Director Lindsay Judge spoke to @BBCr4today this morning about the state of British housing 🏡🧵
Our current housing crisis is decades in the making.

The UK is not alone in considering itself in the midst of a crisis, but our cramped and ageing housing offers the worst value for money of any advanced economy.
Looking at 'imputed rents' of homeowners as well as actual rents, we spend more on housing than almost every other rich country.

💸 what's making our homes so pricey? 💸 Chart showing Actual and imputed rents as a proportion of total consumption: OECD countries, 2019
Read 7 tweets
Mar 7, 2024
Back for more? - the Resolution Foundation overnight analysis of the 2024 Spring Budget is out now!



To whet your appetite ahead of reading the full report, here's a six-chart thread with a few of the key highlights....
⬇️⬇️⬇️resolutionfoundation.org/publications/b…
1) Filling out the tax sandwich.

A net tax cut of £9 billion is taking effect in the election year. But this is dwarfed by the estimated £27 billion of tax rises that came into effect last year (2023-24) and the £19 billion that are coming in after the election (2025-27). Image
2) Shifting state support from the rich to the poor.

RF analysis of all major tax and benefit policies announced in this parliament show finds that typical households are set to gain £420 a year on average, while the poorest fifth gain £840 and the richest fifth lose £1,500. Image
Read 8 tweets
Feb 26, 2024
Kicking off our event @_louisemurphy says that Britain has a youth mental health crisis. One-in-three 18-24-year-olds report having a common mental disorder, rising two-in-five young women. Image
This is having real-world impacts.

On health, more than half a million 18-24-year-olds were prescribed anti-depressants in 2021-22. Image
And on the labour market, people in their early 20s are now more likely to be economically inactive due to ill-health than those in their early 40s. This is a big shift over the past 25 years... Image
Read 12 tweets

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