The recession will leave Britons worse off by the next election than they were a decade earlier, the Treasury watchdog is warning after the autumn statement.
The Office for Budget Responsibility (OBR) concludes Jeremy Hunt’s £55bn package of spending cuts and tax hikes will succeed in getting rising government debt under control.
But it warns that even £100bn of spending – including holding down energy bills for a further year from April – only “cushions the blow of higher energy prices” in part.
