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Government's austerity measures hit poorest income families

A report issued today by the Institute for Fiscal Studies offers a very different review of the government's recent austerity measures with an accusation that the poorest families in the UK have been hit hardest. This is a bitter blow for the UK government which had put forward the recent emergency budget as a progressive budget and a balanced budget which would see the pain shared by each and every member of the UK population.

However, even though recent and ongoing benefit payment reductions have not yet been factored into the figures, the figures from the Institute for Fiscal Studies seem to show that the upper classes are retaining a higher percentage of their wealth. The government has hit back with claims that the report is "selective" in the budget measures which it has considered and reviewed and still stands by its claim that the recent budget was progressive and balanced.

As you might expect, the survey has played into the hands of opposition parties who have been very vocal in their condemnation of recent austerity measures introduced by the government. There is also no doubt that the Labour Party will use this particular survey, whether right or wrong, to try and widen cracks in the coalition government.

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