The National Health Service will turn 70 on 5 July 2018, but public concern about its condition is at its highest since the early 2000s. This mirrors notable declines in many performance measures over recent years, which have taken place against a backdrop of historically low rises in NHS spending. And looking ahead, funding pressures … Continued
With next year expected to mark the point at which both the current deficit is finally eliminated and the debt-to-GDP ratio starts to fall, the Chancellor’s ‘tiggerish’ stance yesterday is understandable. But the light at the end of the austerity tunnel remains all too faint for the moment. For households, the next few years are … Continued
On a number of measures, the economic outlook has brightened a little since the ‘bloodbath’ of the Autumn Budget, meaning the Chancellor is likely to receive some good news on the deficit at next week’s Spring Statement But if the OBR follows the same path as the Bank of England and other forecasters, it is … Continued
Britain is on course for the longest period of falling living standards since records began in the 1950s, with the current crunch forecast to last longer than the post-crisis income squeeze. Our overnight post-Budget report Freshly Squeezed highlights the unprecedented scale of the economic downgrade handed down to the Chancellor by the OBR, and how … Continued
In this briefing paper we explore how the Budget looks set to be take place against an outlook for living standards that is even gloomier than the one likely to be facing the Chancellor on the public finances. This will reduce his room for manoeuvre but increase the need for action.
Beyond facing down expected economic downgrades and clarifying the direction on Brexit, resetting the agenda on intergenerational fairness has emerged as a top priority for the Chancellor in this month’s Budget. This focus reflects a growing body of evidence showing that generation-on-generation living standards progress is under threat for today’s young adults – as analysis … Continued