Resolution Foundation Event Recordings

Britain’s macroeconomic policy that the Treasury and Bank of England have got used to is crisis management – from a financial crash to a global pandemic and a huge inflation spike. Both have adopted new approaches to supporting the economy, going far beyond textbook cuts to interest rates. Today the legacy is higher levels of debt, amid huge uncertainties about the future path of interest rates. But Britain’s macroeconomic policy framework – from the Chancellor’s fiscal rules to the Bank’s inflation target – remain largely unchanged this century.

Do today’s higher interest rates mean monetary policy makers have more scope to support the economy in a downturn? Or if a world of ultra-low interest rates returns, what does it mean for monetary policy effectiveness and inflation targeting? Can the Treasury repeat the likes of furlough or caps on energy prices when the next crisis hits? And would it take to meet both main parties’ commitment to see debt falling as a share of GDP – to fix the fiscal roof when the economic sun eventually gets round to shining once again?

The Resolution Foundation is hosting an in-person and interactive webinar – as part of The Economy 2030 Inquiry, in partnership with the Centre for Economic Performance at the LSE, and funded by the Nuffield Foundation – to debate and answer these questions. Following a presentation of the key highlights from new research on the big fiscal and monetary policy challenges facing Britain in the decade ahead, we will hear from leading experts on how to confront them.

Read the report: https://economy2030.resolutionfoundation.org/reports/built-to-last/ 

View the event slides: https://www.resolutionfoundation.org/events/riding-the-economic-rollercoaster/ 

The last few years have not been easy times for any advanced economies. The UK, US, and Eurozone have all buffeted by major economic shocks, most recently by the most significant inflation surge in four decades. But while there are many common themes – huge inflation pressures, rising interest rates, tight labour markets and weak GDP growth – the drivers and evolution of these trends vary from country to country. The UK currently has higher inflation than seen across the Atlantic, and some expect it to see interest rates remain higher for longer too.

Why has inflation risen and fallen at different scales and speeds in different countries – and on different sides of the Atlantic? What does that tell us about who is most, and least, likely to experience a ‘soft landing’ from recent interest rate hikes? And what might this mean for elections expected in the US and UK next autumn?

The Resolution Foundation is hosting an in-person and interactive webinar – in partnership with leading US think-thank The Brookings Institution – to debate and answer these questions. We will hear from former Vice Chair of the Federal Reserve Board Donald Kohn on inflation in the US, and from other economists on the differences and similarities between the recent economic shocks felt in the UK, the US and other advanced economies, and what this might mean for their economic outlooks.

View the event slides: https://www.resolutionfoundation.org/events/worlds-apart/ 

Advanced economies across the world have been buffeted by acute shocks crises like the Covid-19 pandemic and war in Ukraine, at the same time as they are grappling with longer-term challenges like deindustrialisation, the rise of AI and globalisation. Labour markets across a range of countries have experienced persistent wage stagnation, the rise of insecure work, and growing calls for ‘good jobs’.

These shocks and challenges may be shared in nature but nations are developing different policy responses. Good jobs is a key pillar of Biden’s economic strategy, underpinned by the Inflation Reduction Act. But the UK lacks a good jobs strategy of its own, or indeed a wider economic strategy to tackle its twin challenges of low growth and high inequality.

What would a good jobs strategy in Britain look like? How would it stretch across trade, labour market, net zero, tax and benefit, and industrial policy? And what can we learn from current debates in the US about how to build a Good Jobs economy?

These are key questions for The Economy 2030 Inquiry, and that one of the world’s leading economists – Professor Dani Rodrik – will answer in a major lecture this autumn, hosted by the Resolution Foundation. Dani will set out his approach for a ‘good jobs’ strategy, including where it has applied successfully in the US.

View the event slides here: https://www.resolutionfoundation.org/events/creating-a-good-jobs-economy/ 

Change is accelerating, or so we are told. But while the world is changing, it’s far less clear that Britain’s economy is. In fact we’re seeing less industrial change, as some sectors grow and others shrink, than has been the case for decades. Fewer workers are moving jobs. This matters because, while many of us are ambivalent about change, such economic dynamism has historically been a big driver of productivity – and pay – growth.

What has happened to the pace of economic change – for workers, firms and the economy as a whole? How much does this matter? Can policy makers help to foster a more dynamic economy? And what should be done to deal with the disruption that a more dynamic economy could bring?

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 new research on how to encourage more dynamism, we will hear from leading experts on the gains, challenges and trade-offs that more economic change will bring.

Read the report: https://economy2030.resolutionfoundation.org/reports/ready-for-change/ 

View the event slides: https://www.resolutionfoundation.org/events/more-change-please/ 

Losing your job in Britain can be a very expensive business. Low and flat rate benefits leave many workers facing huge income falls if they face a period out of work. This gives them a strong incentive to take a new job quickly – but not necessarily the best fit for their talents. And it discourages people from taking the risk of moving to a new job if they don’t know how it will work out. This is a problem for the worker, given moving jobs is a key way to secure a pay rise, and for all of us, holding back productivity growth that a more dynamic labour market supports.

How big is the problem of low job mobility in Britain, and how does it stunt pay and productivity growth? To what extent does the benefit system help or hinder workers’ ability and willingness to move jobs, and how well does it protect workers’ living standards when they experience unemployment? What would an effective earnings insurance system actually look like? And how much might it cost?

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 report highlights from a new report on how a new earnings insurance system might work, we will hear from leading experts on how that system might impact UK dynamism.

Read the report: https://economy2030.resolutionfoundation.org/reports/from-safety-net-to-springboard/ 

View the event slides: https://www.resolutionfoundation.org/events/risk-reduction/ 

Greater Manchester has long been centre-stage in visions of a more geographically equal country – from the Northern Powerhouse to levelling up. But the rhetoric has outpaced the reality: productivity and wages across the city region remain 10 and 4 per cent below the national average.

What it would take for Greater Manchester to become a much richer city – and who would benefit from such a transformation – is a central theme of the Economy 2030 Inquiry, a major project by the Resolution Foundation and LSE into what a new economic strategy for the UK might look like. Britain as a whole, not just the city itself, need a more successful Greater Manchester. But that will require significant change – on everything from housing and transport to how land is used and the jobs people do.

What would a more productive Greater Manchester look like? Is there a plausible strategy for the city to reach that point – and how does it differ from what is currently in train? What difference will recent public transport improvements make? Should housing continue to be prioritised in city centre land use decisions? And how should we expect success to impact different kinds of residents?

To debate these questions and launch the conclusions of this major Economy 2030 project on Greater Manchester, the Resolution Foundation is hosting an in-person and interactive webinar. Following a presentation of the report’s highlights, alongside the findings from a deliberative workshop with local residents, we will hear from leading experts on how to deliver greater prosperity for Greater Manchester.

The event will be open for people to physically attend, alongside being broadcast via YouTube and the Resolution Foundation website. Viewers will be able to submit questions to the panel before and during the event via Slido. This project is being run in collaboration with Centre for Cities.

Read the report: https://economy2030.resolutionfoundation.org/reports/a-tale-of-two-cities-part-2/ 

View the event slides: https://www.resolutionfoundation.org/events/making-greater-manchester-great-again/ 

The West Midlands has played a pivotal role in British history as a manufacturing hub, driving innovation and economic growth which led to dramatic improvements in people’s living standards. But its city region has struggled to maintain this role over recent decades, and productivity is now 11 per cent below the national average. Both Britain as a whole, and the region itself, need a more successful Birmingham, and successful cities and towns across the wider region. But that will require significant change – on everything from transport and jobs, to how many people live there and where they live.

What would a more productive West Midlands look like? Is there a plausible strategy for the region – and Birmingham in particular – to reach that point, and how does it differ from the current policy approach? What difference could the planned expansion of public transport make? Should housing continue to be prioritised in city centre land use decisions? And how should we expect success – and change – to impact different kinds of residents?

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 report highlights from a new report, alongside the findings from a deliberative workshop with local residents, we will hear from leading experts on how to deliver greater – and shared – prosperity for the West Midlands.

Read the report: https://economy2030.resolutionfoundation.org/reports/a-tale-of-two-cities-part-1/ 

View the event slides: https://www.resolutionfoundation.org/events/building-momentum-in-birmingham-and-beyond/ 

Adam Smith was a leading political economy thinker of the Scottish enlightenment in the mid-late 18th century. But as the “Father of Capitalism” his pioneering work on free market economics has influenced politicians, philosophers and economists throughout the 19th, 20th and 21st centuries too.

But modern Britain – as well as other advanced economies – is struggling with economic stagnation. Many people are questioning the central tenants of capitalism that Smith championed – from free trade and globalisation to regulation and the role of the state – and whether they can deliver the living standards growth that people need. What lessons can we learn from Adam Smith on the economic challenges facing Britain today?

To mark the 300th anniversary of the birth of Adam Smith, the Resolution Foundation is co-hosting an event with the Society of Professional Economists to discuss what his work can teach us about the economic challenges of Britain today. We will be joined by one of the leading experts on Adam Smith, Minister and author Jesse Norman MP.

Watch the event here: https://www.resolutionfoundation.org/events/enlightened-economics/ 

There is overwhelming evidence that Britain’s social contract is under strain. Young people today aren’t enjoying big generational living standards improvements, and are struggling to match lifecycle milestones that previous cohorts enjoyed, like a secure job and a home that they own. These problems are widely recognised – but that doesn’t mean that solutions are widely supported.

Do different age groups acknowledge the specific issues that young generations face? How do family ties with younger generations influence older adults’ beliefs, support for targeted policies and voting behaviour? And what does all this mean for political parties’ strategies, given their increasingly age-concentrated voter bases?

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 a new collaborative project between the Resolution Foundation and Nuffield College, Oxford, we will hear from leading experts on the key issues of intergenerational equity across Britain.

Read the report: https://www.resolutionfoundation.org/publications/family-matters/ 

View the event slides: https://www.resolutionfoundation.org/events/war-or-peace/ 

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 and policymakers.

Read the report: https://www.resolutionfoundation.org/publications/living-standards-outlook-summer-2023/ 

View the event slides: https://www.resolutionfoundation.org/events/a-living-standards-election/