As the budget looms, the chancellor has very little scope to deliver the sort of measures that might make people vote Tory
Graham Watson's insight:
Phillip Inman looks at what's in store in the Budget and concludes that there's little prospect of pre-election sweeteners, particularly for homeowners and middle income families.
The Budget and other government measures will make households worse off, says the Resolution Foundation.
Graham Watson's insight:
The smoke and mirrors associated with the Budget are yet to give a clear view of what's going to happen to the economy, however, the Resolution Foundation are of the view that middle income groups are going to pay significantly more in taxes, around £3,000 more.
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Insecure jobs and high housing costs make it hard to maintain decent living standard, says abrdn Financial Fairness Trust
Graham Watson's insight:
Proof that the cost of living crisis is affecting lots of families with the Financial Fairness Trust suggest that even households with incomes of up to £60,000 are struggling to maintain their living standards.
The reason for this is, apparently, increased job insecurity and rising housing costs. It might also explain the current political state of play too.
The Institute for Fiscal Studies warns households are in for a "long, hard, unpleasant journey".
Graham Watson's insight:
The Institute for Fiscal Studies review of the Autumn Statement has concluded that the tax rises included are going to be baked in to future economic policymaking. In particular, it's going to be middle earners that are hardest hit - and not in receipt of extra energy bill support, for example.
However, the prospect of personal allowances being frozen until April 2028 (yes, you read that correctly) and councils being granted the ability to raise Council tax by as much as 5% without having to consult the electorate means that the middle is really likely to be squeezed in the years ahead.
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Phillip Inman looks at what's in store in the Budget and concludes that there's little prospect of pre-election sweeteners, particularly for homeowners and middle income families.