IFS Report: Regressive budget hits poor hardest

James Browne and Peter Lavell of the Institute for Fiscal Studies publish their End Child Poverty-commissioned report on the consequences of the emergency Budget:

“The chancellor claimed in his Budget speech that the June 2010 Budget was a ‘progressive Budget’. Initial analysis of this claim showed that this was not true if measures announced in the Budget were analysed in isolation, or if their effects were considered over the longer term.

“The biggest losers from the June 2010 Budget are low income households of working age, while better off working-age households without children lose the least.”