IFS analysis shows Tories balancing books on backs of the poorest

The Liberal Democrats have accused the Conservative government of "balancing the books on the backs of the poorest," after analysis of the Budget by the Institute for Fiscal Studies revealed there are another £12 billion of planned welfare cuts.

The analysis found that the four-year freeze in welfare is now set to lead to 11 million households losing an average of £400 each by 2019, with the poorest 20% of families hit hardest.

The analysis also found average earnings in 2021 look set to plunge to £1,400 lower than forecast in March 2016 - which is lower in real terms than at the time of the financial crash in 2008.

Elaine Bagshaw, Parliamentary Spokesperson for Poplar & Limehouse said, "The nasty party is back in this Government. Tower Hamlets remains one of the poorest boroughs in the country and this budget will not only make people poorer, it will make them suffer. The Tories need to stop trying to balance the books on the backs of the poorest people in the country."

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