Labour's tax raids could cost Britain 215,000 jobs by 2030 as households face their worst decade for incomes on record
Prime Minister Andy Burnham speaking to ITV News, with NatWest chief executive Paul Thwaite among those criticising Chancellor John Healey for lacking ambition on growth.The freeze will also hand the Treasury an extra £71bn, with one in three London homes set to miss out on the Budget's £100 energy handout due to eligibility rules based on 1991 council tax bands.
The Institute for Fiscal Studies has warned that average household disposable incomes will grow by just 2% across the entire 2020s — the weakest decade on record, worse even than the 1950s under post-war rationing. IFS director Helen Miller said no temporary cost-of-living package could fix the structural problem, calling for a stronger economy. The Joseph Rowntree Foundation separately projects annual household incomes will fall by £450 between 2024 and 2029.
A jobs watchdog has sounded the alarm that 215,000 positions could be lost by 2030 because of Labour's tax raids and a freeze on personal allowances.
Healey has also been accused of leaving a £49bn black hole in Britain's finances, while the CBI has branded the Budget a failure to deliver.
Joe Harper, whose pub chain includes the Chancellor's local, warns a pint could rise by 25p after Healey announced a record 4.5% hike in alcohol duty.
