From BBC News: The prediction that average UK earnings in 2022 could still be less than in 2008 is “astonishing”, according to an independent economic think tank.
Paul Johnson, director of the politically independent Institute for Fiscal Studies, added that the economic forecasts published in the Budget made for “pretty grim reading”.
He highlighted that since 2014 growth in earnings has been “choked off”.
“We are in danger of losing not just one but getting on for two decades of earnings growth,” he said.
The narrative of the Tory press is that the UK’s debt issues are all Gordon Brown’s doing, and #ToryCompetence (LOL) is saving the day.
This infographic from the Press Association tells an ever-so-slightly different reality.
#UKNationalDebt: The narrative of the Tory press is that the UK's debt issues are all Gordon Brown's doing, and…
Posted by Stop the Tories Channel on Saturday, November 25, 2017
From RT: Jeremy Corbyn poured his scorn on the May government over announcements that the Tories claim will pull Britons out of poverty and put the young on the property ladder.
Corbyn slammed the government, and mocked them for the policies that he agreed with, stating they had been “lifted” from his own manifesto. “It’s falling pay, slow growth and rising poverty,” he said.
“This is what the chancellor has the cheek to call a strong economy. The poorest tenth of households will lose 10 percent of income by 2022, while the richest will lose just 1 percent. So much for tackling burning injustice. This is a government tossing fuel on the fire,” added the Labour leader.
“8.3 million people are over indebted. If he wants to help people out of debt, back Labour policy for a real living wage of £10 per hour by 2020.” Read more
Vince Cable, leader of the Lib Dems, writes in The Times: “The Budget contained news that badly damaged the Conservatives’ reputation for economic competence. For a start, it was confirmed that we have slipped from the fifth to the sixth biggest economy in the world, behind France, and worse could follow.”
[Read column on The Times website…] (paywall, but free registration allows access to two free articles per month)