Brits will lose £2 in "stealthy" freezes for every £1 gained through Liz Truss's tax cuts, a respected think tank has warned.
Analysis by the Institute for Fiscal Studies (IFS) found households will lose more over the next three years than they will gain from Tory cuts to personal taxes.
The Prime Minister's mini-Budget - which spooked markets and triggered days of economic turmoil - included reductions in national insurance contributions (NICs) and the 1p cut to the basic rate of income tax.
