<div style="page-break-before:always; page-break-after:always">The Institute for Fiscal Studies came to the damning conclusion in its Budget analysis.IFS director Paul Johnson said voters &ldquo;may not get much feelgood factor&rdquo; with living standards &ldquo;barely rising and, for many, falling over the next year&rdquo;.Mr Johnson added: &ldquo;This is not a set of priorities which looks consistent with long-term growth or indeed levelling up.&ldquo;Millions will be worse off in the short term. &ldquo;We are now experiencing enough inflation that real pain will be felt as low-income households &ndash; most of whom have little in the way of financial assets.&rdquo;

&lsquo;Real pain' for millions

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