Spring Statement reaction: Sunak will ‘incur wrath of pensioners at next election’ | Personal Finance | Finance
And username mathmagician wrote: “Falls way, way short of the mark. My family is ok, but I fail to see how this will help the hard up.”
Mr Sunak was forced to defend his Budget on Thursday morning as criticism poured in from all sides.
The Office for Budget Responsibility said further inflation hikes are expected to cause “the biggest fall in living standards in any single financial year since records began in 1956-57”.
The Resolution Foundation, a living standards think tank, warned the lack of support for low-income families in the Spring Statement leaves 1.3 million people – including 500,000 children – on the verge of “absolute poverty”.
And the Institute for Fiscal Studies said “the biggest omission” from the spring statement was “anything for those subsisting on means-tested benefits”, including pensioners, who will be facing cost of living increases of about 10 percent “but their benefits will rise by just 3.1 percent”.
