UEA economics expert says tax changes won't offset cost of living worries
Prime Minister, Rishi Sunak says the economy is ready to move onto its “next phase” after a slight drop of inflation
An economics expert at the University Of East Anglia says our wallets will likely continue to be squeezed - despite rumours of tax cuts in Wednesday's Autumn statement.
It comes soon after Prime Minister, Rishi Sunak, said the economy is ready to move onto its “next phase”, after a slight drop of inflation.
The Chancellor, Jeremy Hunt, hasn't raised benefits since taking office.
He's also said those receiving this support must seek work within the next 6 months or face what they receive being reduced.
Rishi Sunak has previously promised to ‘clamp down’ on welfare fraudsters as part of a drive to get more people into work - saying it's a "national scandal" that around two million working-age people aren't in employment.
"This may cause big issues”
Dr Ritchie Woodard shared how these changes could seriously impact those who are on benefits or on long waiting lists at the NHS:
“It’s supposed to encourage people to get into work but it will hurt the most vulnerable,” Dr Woodard stressed, before warning “this may cause big issues.”
The Autumn Statement will be unveiled in full on Wednesday at 12:30pm.