Poor families face more austerity as benefits freeze continues – business live

Economists warn that poor households are suffering from the
UK’s benefits freeze

8.08am GMT

Resolution Foundation has more bad news — Britain’s wages
won’t catch up to their pre-crisis levels for another four
years.

The thinktank says:

7.53am GMT

These charts show how chancellor Hammond has the ability to end
more on public services and benefits….

What did we learn from the
#SpringStatement
today? Cumulative borrowing has been revised
down by £30bn between this year and 2023-24. The Chancellor is on
course to meet his target of cyclically-adjusted borrowing being
below 2% of GDP by 2021-22 – with £26.6bn to spare. pic.twitter.com/TTHDeqwXOV

The Chancellor didn’t announce any big new
tax and benefit changes for the coming financial year in his

#SpringStatement
. But changes are coming anyway, which will
take £100 from the poorest fifth of households and give £280 to
those in the top 10 per cent https://t.co/9MQXf7JPPn pic.twitter.com/zWKmoJWWt2

Source: FS – All-News2-Economy
Poor families face more austerity as benefits freeze continues – business live