Analysis published by the IFS this week shows that the poorest people in the UK will have lost approximately 11% of their net income between 2015-2020, primarily due to the ongoing austerity programme, and in particular cuts to Universal Credit.
Yet over the same period, the richest 40% of the UK will actually be better off from tax changes being brought in by this government.
I think this shows exactly who this government is looking out for over the next 4 years, and it isn’t the poorest people in our society, or even the much-fabled JAMs (Just About Managing).
So any slight recovery that we might see will very much be done on the backs of the poorest, and not the richest, in society.
And given that the government’s already failed on all three of its fiscal rules, so it decided to give itself some new ones, even that is questionable now.