This afternoon the Chancellor told us that one of his “steps to control benefit spending” will be “freezing Universal Credit work allowances for a further year”. The work allowance is one of the key elements of Universal Credit – it is the amount of earnings you’re allowed before your Universal…Read more…
The ‘long-term plan’ is a political plan not an economic plan
Today the OBR released figures that showed, as widely expected, deficit reduction to date has stalled. Balancing the books (one further year into the future) relies on eye-watering and dangerous cuts in departmental spending. Meantime, in the economy, household debts have been revised up by £174…Read more…
Autumn Statement 2014 stamp duty give away will do nothing to solve the housing crisis
Many eyes will be on the stamp duty tax cuts announced in the autumn statement today, but this will do little to address the UK’s entrenched housing crisis. A very unpalatable truth for supporters of the current government is that total home ownership has declined in every year since 2008….Read more…
Autumn Statement 2014 – What’s in it for industry?
Today’s Autumn Statement contained an important package on growth and productivity. So what did we get? And was it enough? First, there was good news on infrastructure. £15bn was committed to improve the national road network. This includes around £6bn to resurface 80% of the national…Read more…
Britain needs a pay rise, but this #AutumnStatement won’t give us one
Listening to today’s Autumn Statement, it’s clear the living standards crisis has wrecked the Chancellor’s strategy. He has failed his deficit reduction pledge as low-paid Britain is paying much less tax than expected – £17bn less in fact. And businesses won’t be able to find the…Read more…
Austerity will continue to hit frontline flood defences
One thing at least is clear from the Autumn Statement: austerity measures will continue to undermine our national response to climate change, notably our frontline flood defences. No new money is involved in the multi-year capital programme for flood d…Read more…
Tens of thousands of single parents face wrongful sanctions
Sanctions have been a key plank in welfare policy for both Labour and the coalition government. They are designed to make sure that claimants looking, or preparing, for work comply with the requirements the job centre places on them in return for their…Read more…
Questions for coalition on flood defence promises
Increased spending on flood defences and exploratory talks for the first lagoon power project with potential to provide 8% of the UK’s energy have been trailed as key to the government’s infrastructure plans. But already the Oppostion is arguing that this is not new money – at the beginning…Read more…