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IFS: Autumn Statement means 'colossal cuts'

Yesterday's Autumn Statement means the UK is set for "cuts on a colossal scale", according to the Institute for Fiscal Studies.

George Osborne earlier condemned "hyperbolic" coverage of his spending plans.

Public spending is likely to fall to its lowest level since the 1930s during the next Parliament, according to new analysis from the Office for Budget Responsibility.

However, Osborne said warnings over the cuts were "nonsense" - particularly targeting the BBC for criticism over its coverage.

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Osborne 'failed to tackle big household pressures'

George Osborne missed an opportunity to tackle the "big household costs" that are leaving families struggling, the Citizens Advice Bureau has said in response to the Autumn Statement.

A freeze on fuel tax, exempting children from air passenger duty and increasing the personal tax threshold are small gains for households.

But today is a missed opportunity to address some of the larger costs families face, particularly around childcare and energy bills and some people are still without access to basic banking services.

– Gillian Guy, Chief Executive of national charity Citizens Advice
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IFS: Autumn Statement means 'colossal cuts'

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