Lalitha Try

Economist at @resfoundation working on everything living standards, welfare and incomes

[Lalitha Try @LalithaTry]

...and if you haven't seen the @resfoundation overnight budget response document yet, you can find it here https://t.co/4MM3AqrI9B

[Lalitha Try @LalithaTry]

Yesterday's budget was the biggest tax-raising budget on record - here are some of my charts putting it into context...

[Resolution Foundation @resfoundation]

Rachel Reeves’ first budget marked a significant tax-raising event. Tax rises immediately after an election are not unprecedented, but the net tax rise announced at this budget was of a scale we have not seen for many years.

[Zachary Leather @zackleather]

Poorer and younger households will be most impacted by the bus fare cap increasing to £3. The lowest income fifth take twice as many £2+ bus trips than the richest, and those under 30 take almost 4 times as many as the over 60's.

[Jonny Marshall @JMarshall_3]

New @resfoundation report out today on how we can share the costs and benefits of decarbonising transport fairly

https://t.co/lRzP4yitmn

[Matilda Davies @matildakdavies]

🪩 PSA for anyone that likes to stay out past 2am...

I've built maps to show you every pub, bar and club that's open until a reasonable hour

They're free & interactive

London: https://t.co/vAhCDZXvMe
Manchester: https://t.co/2gsUpC3EQr
Edinburgh: https://t.co/bICwpObIyh

[JamesSmithRF @JamesSmithRF]

This morning’s @ONS inflation data shows CPI was 2.2% in August, unchanged from July and in line with expectations. Details a bit disappointing with measures of underlying inflation remaining sticky. Not a lot here to encourage a BoE rate cut tomorrow. Short thread to follow...

[Resolution Foundation @resfoundation]

🚨 Opportunity alert! 📢

The Resolution Foundation is offering two paid training placements for recent graduates... https://t.co/9PJ5VztLll

[Resolve Poverty @resolvepoverty]

📈 Following the General Election, living standards growth must be on the agenda for the new government.

@LalithaTry, Economist at the @resfoundation, explores new research on how living standards have changed over the last Parliament and since 2010 👇

https://t.co/CeekTvolfs

[Lalitha Try @LalithaTry]

Massive thanks to @simonpittaway for braving the early start this week with me!

[Lalitha Try @LalithaTry]

CPI inflation rose to 2.2% in July, higher than 2% in June, but less than market and Bank expectations.

[Simon Pittaway @simonpittaway]

Services inflation also came in below expectations. Was 5.2% in July, less than the BoE's latest forecast (5.6%) and market expectations (5.5%).

This is a big surprise just 1 month into the August MPR forecast.

[Lalitha Try @LalithaTry]

Overall then, the rise in headline inflation was smaller than expected, and the concentration of news in services is a positive sign for domestic price pressures easing. Combined with yesterday’s weak wage data, this boosts the chances of further rate cuts later this year.