While Jeremy Hunt was keen to portray an optimistic picture of his autumn statement, bragging about tax cuts and how he was ‘growing the economy’, even though the facts show otherwise, new analysis has revealed just how bad it’s got for households under the Tories.
Analysis by the Resolution Foundation has revealed that this Parliament is set to be the worst on record for household income growth. The think tank found that incomes are projected to fall by 3.1 per cent from December 2019 to January 2025.
It said in its report: “That makes this the only Parliament that has seen an overall decline in real household incomes (the next worse being that of 2015-17, which saw growth of 1.0 per cent).”
The below chart illustrates just how bad this Parliament is for household income growth. So much for the Tories being the party of sound finances.
Sure the Tories suck, but there was a small global pandemic.
… followed by an inflation shock from a jump in the price of imported fuel and commodities, due to an actual war between two European countries - something that literally none of the other prime ministers on that list had to deal with.
Sunak’s government is awful and deserves to be ejected from office in a landslide - but it hardly helps (and possibly even undermines) the case against them to pretend that what has happened to household real incomes this Parliament isn’t overwhelmingly due to factors way outside of their control.
Don’t you see, the PM that happens to be in power at the time of a war is directly responsible for it. This is the way. Boris Johnson is directly responsible for the ear in Ukraine and everything since. It’s just easier this way… less to think about 😂.
How has this affected the economy. He borrowed the money and has paid absolutely nothing back. We are in more debt now than we were after lock down.