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Response to Budget 2023

Budget 2023 was the Chancellor’s first major opportunity to respond to the challenges facing households across the UK, which are most acutely felt by low-income families. This briefing sets out whether he made sufficient headway.

Written by:
Darren Baxter, Rachelle Earwaker, Abby Jitendra, Peter Matejic, Iain Porter, Dan Tomlinson and Andrew Wenham
Date published:

Prior to the today’s Budget, JRF identified three major challenges for the Chancellor to confront:

  • The inadequacy of the social security system impacting the ability of low-income households to meet the rising costs of essentials. 
  • The systems around our labour market which currently don’t do enough to help people remain in, or join, the labour market when they have childcare responsibilities or ill-health. 
  • The housing downturn which risks entrenching the unaffordability of homes and continuing to lock people out of the homes they need. 

Key finding

Action in some areas is promising – particularly in relation to childcare funding – but overall the Budget has failed to adequately address the challenges facing households, particularly those on low incomes.

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