Britons ‘to be £400 worse off’ due to Reeves’ tax hikes – despite pledge to boost pockets by £500

Working age households are set to be £400 worse off on average next year due to tax hikes, rising bills, and stagnant benefits, according to the Resolution Foundation. Despite Rachel Reeves’ claim of Labour’s policies leaving families £500 better off, the outlook for living standards is described as “historically bleak” with a one per cent drop in disposable income for a typical household, blamed on tax hikes and frozen thresholds. The only positive note is a 6.7 per cent rise in the national living wage for 2 million workers, as low-income households are projected to become £500 poorer annually by the next general election, casting doubt on the chancellor’s optimistic forecast.

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