Grim economic outlook ahead - Resolution Foundation17 Nov 2022 09:22
The chief executive of the Resolution Foundation think tank says he is expecting some "pretty bad economic news" for the Office for Budget Responsibility (OBR) as the autumn statement is announced.
Speaking to Sky News, Torsten Bell says he expects the UK will face a "grim economic outlook", not just in terms of energy bills and high inflation, but also in terms of the economy growing "very slowly, possibly ending this parliament as weak as it began".
He says he expects unemployment will rise, "which is the opposite of what we've been seeing in the recent past".
Bell adds that while tax rises will largely hit middle and higher earners, inflation and the cost of living will hit those on low incomes the hardest.