The Resolution Foundation is a non-partisan think tank that works to improve the living standards of those in Britain on low to middle incomes.
The foundation’s initial comments on Hammond’s budget:
The big print giveth and the small print taketh away.
Torsten Bell, director of the Resolution Foundation, says about the budget:
“In today’s budget, the chancellor has significantly eased – but not ended – austerity for public services. However, tough times are far from over.
The chancellor has set out plans to spend almost all of a very significant fiscal windfall on extra spending for the NHS, bringing to a close the era of falling overall public service spending. But unprotected departments are still on course for spending cuts into the 2020s – averaging 3% between 2019 and 2023.
The chancellor has also delivered a welcome boost to [‘hard working’] families on universal credit worth £630 a year.”
Tomorrow the Resolution Foundation and the Institute for Fiscal Studies will both be publishing detailed assessments of the budget. I will be scrutinising these and commenting on them.
Jeremy Corbyn’s verdict:
My work is unfunded and I don’t make any money from it. This is a pay as you like site. If you wish you can support me by making a one-off donation or a monthly contribution. This will help me continue to research and write independent, insightful and informative articles, and to continue to support others.