Catherine McKinnell MP, Labour’s Shadow Treasury Minister, responding to Chapter 6 of the IFS Green Budget, said:

“These worrying figures show those on lower incomes have been hardest hit by price rises, particularly food and energy bills. And on current forecasts real earnings are not expected to get back to the level they were in the final year of the last Labour government until 2018/19. In other words, working people are worse off under the Tories.

“A Labour government will act to ensure we can earn our way to higher living standards for all and tackle the cost-of-living crisis. We will freeze energy prices until 2017, expand free childcare to make work pay and ensure 200,000 new homes are built every year by 2020. And we will balance the books in the next Parliament by making fairer choices, including by reversing David Cameron’s tax cut for millionaires.”