IFS Claim Poorest Families More Likely To Need Debt Advice Following Regressive Budget

The Institute for Fiscal Studies has reiterated that the coalition budget, announced in June, will adversely affect the poorest members of society disproportionately. This is contrary to the Chancellor’s claim that wealthier families are more likely to be affected.

The IFS claim that the government failed to consider the effects of some cuts to housing benefit, Disability Living Allowance and tax credits, all of which will have a greater impact on the poorer 50% of households according to the IFS. The IFS has estimated poorer families will be 5% worse off under the new budget and with many families already living close to their means, we’re likely to see a significant increase in households seeking debt advice.

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