2022 Autumn Statement Report: analysis by Resolution Foundation

The Autumn statement this year delivered tough choices as the cost-of-living crisis continues.

  • New forecasts point to unemployment rising by 500,000.
  • A swing from announcing the biggest tax cuts in 50 years to implementing biggest fiscal tightening since 2010 in a matter of weeks.
  • Average disposable incomes are forecast to fall by 7.1% over this year; equivalent to £1,700.
  • Economic output will not return to its pre-pandemic level until Q4 2023, according to forecasts.

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