The Social Market Foundation's response to the Spring Statement
On addressing needs of the poorest, Dr Aveek Bhattacharya, Chief Economist at the SMF, said: “The Spring Statement failed to measure up to the hardship in store for the poorest families, who face deep economic pain unless further action is taken. The hit to living standards is set to be on a similar scale to the worst recessions, but the Chancellor’s response was far from the adaptable ‘whatever it takes’ approach he took to the pandemic response.