Top tax and spending expert pours cold water on Budget

Paul Johnson says Osborne’s promise that we’re better-off than in 2010 relies on a forecast, not actual data

Columnist Don Brind

The leading economic think-tank, the Institute for Fiscal Studies, has delivered its verdict on Wednesday’s Budget and cast doubt on whether it will turn out to be the trump card the Tories have been hoping for.

IFS director Paul Johnson, the country’s most authoritative expert on taxation and spending, says the poor have lost most from the coalition’s benefit changes of the past five years. He calls on Chancellor George Osborne to specify how he plans to cut welfare spending by £12bn.

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is a former BBC lobby correspondent and Labour press officer who is watching the polls for The Week in the run-up to the 2015 election.