Labour Shadow Chancellor John McDonnell said the IFS analysis showed the Tories posed a ‘clear threat’ to working people’s living standards.
Hated Tory benefits cuts are costing nearly three million working households £2500 a year on average, a study has found.
Analysis by the Institute of Fiscal Studies shows that big benefit cuts in the pipeline combined with rising inflation will “significantly reduce” the incomes of some of the country’s poorest families.
The economic think tank said a combination of a freeze in benefit rates, cuts to tax credits and the shift to Universal Credit would mean “large losses” for low-income households.
Labour Shadow Chancellor John McDonnell said the IFS analysis showed the Tories posed a “clear threat” to working people’s living standards.
The Lib Dems said the “Brexit squeeze will hit people in the pocket across the country, with the poorest
families hit hardest.”
The report said: “While cuts…
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