#Thread
“The truth is we just got a lot poorer. We are in for a long, hard, unpleasant journey; a journey that has been made more arduous than it might have been by a series of economic own goals” - Paul Johnson of the pro-market IFS.
#AutumnStatement
theguardian.com/business/2022/…
“The truth is we just got a lot poorer. We are in for a long, hard, unpleasant journey; a journey that has been made more arduous than it might have been by a series of economic own goals” - Paul Johnson of the pro-market IFS.
#AutumnStatement
theguardian.com/business/2022/…
Asked to lay out what he meant by “own goals”, Paul Johnson, the director of the pro-market Institute for Fiscal Studies (IFS), said these included “reducing investment spending”, a decision made by a series of governments, & cutting spending on vocational & further education. 
“Very clearly Brexit was an economic own goal. Economically speaking that has been very bad news indeed. Obviously, the mini-budget of a couple of months ago didn’t help. In fact, that was another very large own goal.”
The transparent Resolution Foundation, led by Torsten Bell, former Advisor to ed Miliband, said the outlook for living standards was “truly grim”, & wages “will not return to their 2008 level until 2027”. The President of the RF Advisory Council is former Tory MP, David Willetts.
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