Budget – the morning after

The Resolution Foundation has been crunching the numbers from the Budget and they say they point to real average pay taking even longer to get back to pre-crash levels. Typical pay returns to pre-crisis peak by 2021, but if you factor in housing costs the line graph suggests the return to peak is potentially more than a year further off than that.

They’ve also produced a graph to show how unlikely the massive consolidation pencilled in for 2019-200 is. The chart shows the traditional pre-election loosening of fiscal stance back over time.

And here’s their take on the distributional impact of post election measures.