US EditionLower-income households set to be £500 poorer after chancellor's spring statement
- Chancellor Rachel Reeves stated that households would be on average £500 better off under the Labour government, a claim met with skepticism by experts.
- Dame Clare Moriarty of Citizens Advice criticized the government for making welfare cuts that harm low-to-middle income families while claiming to improve living standards.
- The Resolution Foundation reported that 68 percent of the welfare cuts announced were concentrated among households in the bottom half of the income distribution.
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How did the UK's finances get into such a mess and what does the future hold? - The Mirror
The spring statement shone a light on the dire state of the UK finances - but how is it that our debt pile stands at £2.8trillion and we are paying over £100billion a year in interest?
·London, United Kingdom
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Lower-income households set to be £500 poorer after chancellor's spring statement
Living standards are on track to fall over the next five years for the poorest half of households - with the fall on a scale only exceeded by the early 1990s recession and the 2008 financial crisis and fallout.
·United Kingdom
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Leaning Left4Leaning Right4Center2Last UpdatedBias Distribution40% Left, 40% Right
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- 40% of the sources lean Left, 40% of the sources lean Right
40% Right
L 40%
C 20%
R 40%
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