@NEF

New Economics Foundation | Change the rules. Share the wealth. Protect the planet.

 London, UK
neweconomics.org
Joined October 2009
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NEF@NEF19 Nov 2024
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NEW: NEF analysis finds that the chancellor’s flagship £100 energy bill relief will leave more than a MILLION of the poorest households without support. And it could have been made universal for just £700m extra. 🧵
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We have the policies to protect people from the cost-of-living emergency. They can be funded comfortably through measures like equalising capital gains tax rates with income tax rates.
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As the effect of skyrocketing bills sets in over the next few months, the government may yet need to come back in the winter with a further package of support for households. When they do, they should seriously consider a national energy guarantee.
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NEW: The chancellor missed an opportunity to bring down inflation in the budget. Our analysis found that more ambitious cost of living measures could have quadrupled the impact of government inflation reduction.
Chart comparing the impact of newly announced government policies on inflation in Q2 2027 with the impact of adding New Economics Foundation (NEF) policies. Current policies reduce inflation by around 0.22 percentage points. Adding NEF policies increases the reduction to around 0.88 percentage points, through an emergency rent brake, free bus travel for under-25s, a £1 bus fare cap, and the National Energy Guarantee, alongside the government’s fuel duty freeze and removal of VAT from energy bills. Source: NEF analysis.

ALT Chart comparing the impact of newly announced government policies on inflation in Q2 2027 with the impact of adding New Economics Foundation (NEF) policies. Current policies reduce inflation by around 0.22 percentage points. Adding NEF policies increases the reduction to around 0.88 percentage points, through an emergency rent brake, free bus travel for under-25s, a £1 bus fare cap, and the National Energy Guarantee, alongside the government’s fuel duty freeze and removal of VAT from energy bills. Source: NEF analysis.

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Read our full analysis here: neweconomics.org/2026/10/bud…

Budget missed opportunity to bring down inflation

More ambitious cost of living measures could have quadrupled the impact of government inflation reduction

neweconomics.org
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As households prepare to be hit by a wave of price rises this winter, the chancellor has shown the right instincts but not yet the right scale. Our response to #Budget2026 🧵
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This would have helped get living standards back on track, and it would also have eased inflation - reducing the likelihood of future rate rises and giving the government space to invest in reviving our NHS and other public services.
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Nobody expected the government to unravel 40 years of neoliberalism in one budget and the prime minister is right to want to make our economy work for the people who keep it afloat. The upcoming ten year plan must now match that ambition with the action this crisis demands.
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