A recent IFS (Institute for Fiscal Studies) suggests that living standards will be at the lowest level in 30 years.They stress that the next ten years the UK household budgets will be squeezed. It is suggested this will occur because of the impact of increasing taxes and government spending cuts. In other words it is the governments fault. What do you believe? Read the attached article and decide whether these severe consequences could be avoided. What is the government's motivation behind tightening fiscal policy? Why does the BBC article neglect to raise this issue?
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