British households are on course to be worse off at the end of a parliamentary term for the first time in modern history, leading economists have warned, after Jeremy Hunt’s £20bn autumn statement tax cuts favoured the richest 20% of earners.
A day after the chancellor’s speech, the Resolution Foundation thinktank said sluggish economic growth, persistent inflation and higher taxes meant the average household would be £1,900 poorer by January 2025 than they were in December 2019.
