This is why experts have torn Osborne’s Autumn Statement apart

Support us and go ad-free

Chancellor George Osborne has come under attack for increasing austerity measures in his autumn statement which look set to hit the poorest families in Britain the hardest.

On Thursday, both the Institute for Fiscal Studies (IFS) and the Resolution Foundation put forward their evidence. For IFS director Paul Johnson, Osborne’s move from tax credits to universal credit was the biggest problem for British workers. Stressing that “this is not the end of ‘austerity'” and that Osborne’s spending review was “still one of the tightest in post-war history”, Johnson claims that 2.6 million working families will now be

an average of £1,600 a year worse off than they would have been under the current system.

He even takes a swing at Osborne’s “completely inflexible targets”, saying they were a consequence of the chancellor “getting used to” abandoning his objectives.

And the Resolution Foundation has also criticised Osborne’s longer-term universal credit cuts, insisting they would:

fall overwhelmingly on poor working families.

Working households, the organisation asserts, were “set to lose an average of £1,000 in 2020, rising to £1,300 for those with children”.

Read on...

Support us and go ad-free

It sums up by saying:

the average loss among households in the bottom half of the income distribution is £650, while there is no average loss in the top half of the distribution.

And with students set to pay “thousands more in loans”, a quarter of all households set to be renting by 2025, and 78.9 per cent of the cuts in welfare set to fall disproportionately on women, The Independent’s Hazel Sheffield insists that the situation is not looking good for the average working Brit.

In conclusion, she argues,

the poorest in society will pay for Osborne’s economic recovery through cuts and taxes

So the next time Osborne claims the Conservatives are “representatives of the working people of Britain” or that they are seeking “economic recovery for all”, let’s just ignore him and listen to the experts instead.

 

Featured image via the Foreign and Commonwealth Office

Support us and go ad-free

We need your help to keep speaking the truth

Every story that you have come to us with; each injustice you have asked us to investigate; every campaign we have fought; each of your unheard voices we amplified; we do this for you. We are making a difference on your behalf.

Our fight is your fight. You’ve supported our collective struggle every time you gave us a like; and every time you shared our work across social media. Now we need you to support us with a monthly donation.

We have published nearly 2,000 articles and over 50 films in 2021. And we want to do this and more in 2022 but we don’t have enough money to go on at this pace. So, if you value our work and want us to continue then please join us and be part of The Canary family.

In return, you get:

* Advert free reading experience
* Quarterly group video call with the Editor-in-Chief
* Behind the scenes monthly e-newsletter
* 20% discount in our shop

Almost all of our spending goes to the people who make The Canary’s content. So your contribution directly supports our writers and enables us to continue to do what we do: speaking truth, powered by you. We have weathered many attempts to shut us down and silence our vital opposition to an increasingly fascist government and right-wing mainstream media.

With your help we can continue:

* Holding political and state power to account
* Advocating for the people the system marginalises
* Being a media outlet that upholds the highest standards
* Campaigning on the issues others won’t
* Putting your lives central to everything we do

We are a drop of truth in an ocean of deceit. But we can’t do this without your support. So please, can you help us continue the fight?

The Canary Support us

Comments are closed