Following yesterday’s Autumn Statement by Chancellor of the Exchequer Phillip Hammond two think tanks have issued dire warnings that British families face a “grim” few years with a “dreadful” outlook for wages.
Directly after the Autumn Statement Shadow Chancellor John McDonnell echoed these dire predictions, and strongly attacked the Tories for their poverty spreading, and disastrous economic policies.
However, the mainstream media have largely failed to report on the horrendous impact that these policies will have – and have ridiculed McDonnell’s response.
The Institute for Fiscal Studies (IFS) have said that wages in 2021 will be below the level they were in 2008. They’ve warned that we are going to have a decade without real earnings growth, something that hasn’t happened for the last 70 years. The Resolution Foundation said that the worst hit will be lower incomes families, with the poorest third likely to see incomes drop.
View original post 1,079 more words