The Institute for Fiscal Studies (IFS) has warned that the Government’s plans to help households with the cost of living will not prevent living standards from falling.
IFS director Helen Miller, said in her post-Budget analysis: “This decade looks set to be the worst decade for growth in household incomes on record. Just wait until you see the chart; it’s depressing. No amount of temporary cost of living packages will fix that.”
The IFS has also criticised the Chancellor for choosing to fund a £4.7 billion black hole in the defence investment plan – left over by Sir Keir Starmer – in part from the Treasury’s reserves.
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