Event

Work Matters 2025: A budget for economic and labour market renewal?

This event hosted by UK think tank the Work Foundation reviews the latest labour market statistics and discusses how the Chancellor can improve living standards.

Join the Work Foundation and a panel of experts to review the latest labour market and inflation statistics and discuss how the Chancellor can improve living standards.

As the Autumn Budget approaches, the Chancellor is facing tough choices against a backdrop of continued sluggish growth, constrained public finances and a political imperative to deliver the kinds of changes that ensure voters feel better off during this Parliament.

In 2025, the labour market has drifted in the wrong direction. Unemployment continues to creep upwards and vacancies have fallen for the 39^th consecutive month. The Government is aiming to Get Britain Working and raise the employment rate to 80% but there are now 2.4 jobseekers per vacancy and the risk remains that unemployment rises further in the months ahead.

Despite sustained wage growth, persistent inflation means that only half of workers (48%) believe wage increases are keeping up with the cost of living. The combination of stagnant living standards and sticky inflation means that people are still likely to feel pessimistic about their household finances one year into the new Parliament. Employers, too, are facing rising costs and difficult decisions.

But the Chancellor has limited fiscal headroom to kick start the economy, as she is likely to have to balance the books with either spending cuts or tax rises.

Speakers

Helen Barnard – Director of Policy, Research and Impact, Trussell

Suren Thiru – Economics Director, ICAEW

Duncan Weldon – economist, broadcaster & writer

Ben Harrison – Director, Work Foundation at Lancaster University