Living standards for many Britons will continue to decline after Rishi Sunak’s budget, after a decade of austerity that saw average wages rise 40% lower than expected before the financial crash, a respected economic think tank found .

The Institute for Fiscal Studies said the Chancellor used Wednesday’s statement to reverse many of the cuts in government spending imposed by successive Tory-led administrations since 2010, in a package that owed more to Gordon Brown than to George Osborne.

But IFS director Paul Johnson said there would be little “well-being factor” for voters, with middle-income households facing a decline in their disposable income and living standards. others hardly increase at all.

Meanwhile, the unemployed without children – who have lost their universal credit boost payments of £ 20 per week but do not benefit from Mr Sunak’s £ 2 billion for low-paid job seekers – find themselves in a “precarious” situation, with no increase in unemployment benefits for half a century, leaving their standard of living “considerably lower than that of the majority of workers”.

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.