Politics news: Britons told to brace for a decade of pain as household income will be worst on record, IFS says

Live Britons told to brace for a decade of pain as household income will be worst on record, IFS warns Check out all of today’s political coverage from GB News below Britons have been told to brace for a decade of pain with household income plummeting to the worst levels on record, the Institute for Fiscal Studies (IFS) has warned. Slamming John Healey's first Budget as “unhelpful fiddling”, the economic think tank cautioned his unveiled measures do not go far enough to take Britain off a grim fiscal path.

In the aftermath of the announcement on Wednesday, the IFS said the average British family's disposable income would increase by an average of just two per cent over the course of the 2020s - the worst level of recorded growth in more than seven decades. The bleak forecast would mean the country would fail to see growth surpass that of the 1950s - a decade where Britain was still living under brutal post-war rationing measures. IFS director Helen Miller said: “This decade looks set to be the worst decade for growth in household incomes on record.

"No amount of temporary cost of living packages will fix that. We need a stronger economy.” Ahead of his speech, Mr Healey insisted his budget would deliver "breathing space" for households and businesses across the country. Speaking yesterday, the Chancellor said his announcement of £100 off energy bills for about 20 million households in England was an "important payment". He added: "Now, you can't remove all the rises, you can't remove all the pressures that people are facing.

"But my aim is to say, look where we can, we'll act, we'll give people a bit of breathing space and [we're] doing that with this household energy payment." Follow for the LATEST UPDATES throughout the day... Sign up to the Politics Newsletter I agree to receive updates and information about my account, the GB News Community, and related products and services from GB News. Email address Sign up By signing up you agree to the Terms and Conditions and Privacy Policy and Community Rules.

Thank you for signing up! See the latest from GB News here . Choose GB News on Google - add us as a preferred source Choose GB News Support GB News Champion free speech and independent journalism while unlocking exclusive benefits. Support us Follow for the LATEST UPDATES throughout the day... Andy Burnham vows to cut Britain's ballooning benefits bill 'as soon as we possibly can' Andy Burnham has declared he wants to slash Britain's ballooning benefits "as soon as we possibly can" amid forecasts welfare spending could hit £431billion in 2031/32.

However, the Prime Minister was unable to commit to making sweeping cuts before the next general election. He told reporters yesterday: "We want to get the welfare bill down as quickly as possible, and we're working flat out to that end." Mr Burnham warned against making "crude cuts" and insisted he wants to get more people into "sustainable employment" before making any radical changes. The Conservatives, meanwhile, accused Labour of being "addicted to welfare".

Share Labour MP warns Andy Burnham 'not to rip whole country apart' in Brexit war Andy Burnham has been warned by a senior Labour backbencher "not to rip apart the whole country again" by trying to reverse a key element of the Brexit deal. Labour MP Melanie Onn, MP for Great Grimsby and Cleethorpes, also said that it was a "big trust issue" for the PM to go back on the Brexit commitment not to sign up to EU freedom of movement in the party's 2024 general election.

Ms Onn - an elected member of the party's ruling National Executive Committee - was the first Labour backbencher to break cover this week to express concern about the party advocating ripping up part of the UK's Brexit deal with Brussels. Mr Burnham raised the prospect of the UK signing up again to EU freedom of movement in a weekend newspaper interview as part of a deal to get closed to the trading bloc. READ THE FULL STORY HERE Share Load more updates Politics Labour MP warns Andy Burnham ‘not to rip the whole country apart’ in Brexit war Politics British baked beans under threat as Andy Burnham drops tariffs on over 100 food products Politics Zia Yusuf tears into ‘war criminal’ Alistair Campbell in brutal BBC Question Time dressing down Politics Benjamin Netanyahu accuses Arab parties of ‘stealing’ Israeli election as deadlock looms Politics Andy Burnham ally scores John Healey's Budget four out of 10 in damning verdict Politics John Healey defies Andy Burnham's Brexit orders to make bold prediction... and the PM won't like it Politics John Healey blasted by CBI over 'nothing' Budget as Britons receive tax hike warning Politics Lib Dem MP who 'acted aggressively towards' Nigel Farage revealed after Reform leader skips Budget Exclusive Politics John Healey at risk of licensing probe after celebrating 'beer tax' Budget by downing pint Politics BBC told to hold antisemitism inquiry by MPs if it wants its charter renewed Politics Labour condemned over 'shameful' £2billion defence raid in Budget: 'Penny-pinching our military!'

Exclusive Politics Iranian rebels accuse Andy Burnham of 'appeasing' Islamic Republic's tyrannical rulers Politics Andy Burnham gags Cabinet on rejoin EU plot as Labour braces for Brexit civil war Politics John Healey admits Labour won't reduce Britain's ballooning benefits bill this decade Politics Britain could sign up to EU freedom of movement after general election, John Healey admits Politics John Healey insists Labour is 'doing a good job on migration' despite OBR saying arrivals may double over next five years Politics Nigel Farage says Reform UK cannot police its own members over Tommy Robinson support Politics Andy Burnham set to burden John Healey with extra EU costs as Brussels summit risks breaking Budget Politics Chancellor downs pint in Budget celebrations while pub-going Britons face ‘beer tax’ at boozers Politics Landline switchover could leave people cut off from help in emergencies, MPs warn Politics John Healey dodged the big issues facing Britain in a Budget lacking ambition Politics Andy Burnham accused of 'abandoning' Makerfield constituents as locals claim he 'lied to everybody' Politics WATCH IN FULL: John Healey sets out plan for Britain’s finances in first Budget statement Politics Andy Burnham rules out calling general election in next 12 months as Prime Minister says he is not thinking about Labour's 'prospects' Politics Nigel Farage skipped John Healey's Budget following 'physical altercation' with MP Politics John Healey doesn’t blame Brexit for sluggish UK growth – and Chancellor’s six biggest Budget announcements Politics Labour to use £150MILLION of taxpayers' money to 'fund additional large sites to accommodate asylum seekers' Politics WATCH: John Healey leaves No11 ahead of first Budget as Chancellor Politics Budget 2026 Live: Kemi Badenoch calls on John Healey to resign as Chancellor accused of 'making Britain less safe’ Politics Reform faces two by-election tests in Robert Jenrick's backyard in bid to demolish 'uniparty' vote