The IFS is to the budget what the pundits are to Match of the Day. The postwar period was a time of rising real incomes and higher public spending. Johnson said the government would be forced to soften its approach to public spending. Photograph: Hannah McKay/PABut despite the bad news on the deficit, the national debt and public spending, the thinktank saved its real gloom for its forecasts for earnings. Unless the economy performs better than expected, the IFS now thinks Britain is in danger of losing not just one, but getting on for two decades of earnings growth.

Source: The Guardian November 23, 2017 19:15 UTC