JRF concern over ‘autumn statement’
The JRFs chief economist analyses the autumn statement
by The Friends Newsdesk
2nd December 2016
The immediate future for people on below-average incomes is bleak, according to the Joseph Rowntree Foundation (JRF).
Ashwin Kumar, chief economist at the JRF, believes that the government’s autumn statement may offer modest gains for some but will disadvantage most low wage earners.
‘The gains,’ he said, ‘will be dwarfed by previously announced cuts to benefits. The majority of the benefit from the income tax changes will go to better-off families.’
While he welcomed the action taken to support people paying rent, he said, 2017 is ‘going to be a tough year as wages will barely grow faster than prices’ and Britain needs ‘at least 80,000 affordable new homes per year to keep up with demand’.
