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The Progressive Policy Think Tank

IPPR North responds to the Chancellor’s statement

Zoë Billingham, director of IPPR North said:

“Whilst chaos reigns in Westminster, here on the ground in the North and across the country, people are exhausted by financial uncertainty. Soaring mortgage rates, rising rents and the erosion of real wages are everyday worries. Too many are struggling to keep their heads above water. 

“It is no surprise that the government has had to reverse swathes of its ‘mini budget’ announcements today. Borrowing to fund tax cuts for the wealthy is not sustainable, fair or how you grow the economy. 

“Despite the government now going into hard reverse on most of its plans, they’re still not clear on whether they can stick to the basics. Promises like the delivery of Northern Powerhouse Rail in full, and investment in our vital public services must not be rolled back. This would be devastating to communities across the North and totally undermine the UK economy.  

“This is the moment for clarity, stability and shoring up commitments that protect the most vulnerable, across the whole country, whilst the wealthiest should step up – we are yet to see such assurances”. 

ENDS