The Budget will inflict the second worst hit to living standards growth on record, experts declare today - and the worst hit was under the Tories just four years ago.
Average wages are set to remain 4.3% or £1,200 a year below their pre-crisis path by 2025, according to the Resolution Foundation.
And living standards are on course to grow by just 0.3% a year between now and 2024, despite the £407billion cost on Covid. Meanwhile austerity "will continue in practice" despite Boris Johnson's vow to end spending cuts as key departments get less money.
The think tank said that was "the worst on record outside the short 2015-17 parliament that was marked by the post-referendum inflation spike".
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