November 26, 2020
This report from UK think tank the JRF looks at the steps taken in the Spending Review and how they measure up to the challenges faced by the UK.
This analysis looks at the steps taken in the Spending Review and how they measure up to the challenges faced by the UK amid surging unemployment and an urgent need to level up the economy. Public concern about poverty is rising. Millions of people are anxious about their livelihoods and financial futures with large parts of our economy under restrictions and unemployment rising. And although the economic impact of this pandemic is far reaching, millions of people who are already trapped in poverty have been left exposed to this emergency. Their situation has been made worse as they are being hit hardest by rising costs and redundancies. Lying behind the stark statistics are families struggling every day to buy food, pay their rent and cover essentials. And yet there were scant resources given to tackling many of our economic challenges that trap people in poverty in the Spending Review. The Chancellor failed to deliver on promises in vital areas such as investment in skills, levelling up and creating new job opportunities. People living in places with weaker economies are less likely to have money spent on driving local economic growth, reducing their prospects of getting a good job which frees them from poverty.
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By Jonathan Cribb; Tom Waters; Thomas Wernham; Xiaowei XuRead more