Thread: The stats behind the #Budget2017 spin. GDP revised down by an average of 0.4% a year. Earnings growth revised down by an average of 0.5% every year. Productivity growth revised down by an average of 0.7% a year. 1/
Why the downgrades? This is from OBR: "The fall in the pound that followed the EU referendum has pushed up consumer price inflation and squeezed households' real incomes and spending" 2/
Also from the OBR: "Sterling's fall has seen inflation pick up more rapidly in the UK than in the other major economies, contributing to weaker real growth" 3/
This is on top of the extra £3bn announced for Brexit preparations, money that could be going to the NHS or into housing instead. 4/
The government refuses to talk about it, but this #Budget2017 shows the real economic cost Brexit is having on households. The public have a right to be informed, government must release their #Brexit impact assessments. 5/5
