Budget Impact on Wages
This is a UK news story, published by BBC UK, that relates primarily to James Smith news.
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other tax risesBBC UK
•More tax rises to come, warns Institute for Fiscal Studies
73% Informative
Think tank says the outlook for living standards is 'far from rosy' with pay rises likely to be smaller.
Rise in National Insurance Contributions (NICs) is a 'tax on working people', says James Smith .
Other Budget measures, including a big boost to spending, and other tax rises, are expected to raise inflation.
IFS head Paul Johnson says pressure to keep spending on public services will be hard to resist.
IFS: Unless she gets lucky with growth, more tax rises to come next year or the year after.
Growth forecasts published alongside the Budget suggest UK growth will pick up over the next two years but then fall back to more moderate pace.
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