The UK is poorer as a country, says Levelling Up Secretary Michael Gove
Business reporter, BBC News
The head of the independent forecaster, the Office for Budget Responsibility , said living standards were seeing their biggest squeeze on record.And he warned living standards would not return to pre-pandemic levels for at another five to six years.Asked whether he agreed with the OBR's assessments, Mr Gove said economic forecasting was "a very difficult exercise". He added that the UK was dealing with "the aftershocks of two significant events".
He also said the Budget had taken steps to help people back to work and to help families, including with childcare. Mr Hughes added that the longer term outlook for the economy was bleak, with people's real spending power - allowing for inflation - not forecast to recover to pre-pandemic levels until the end of the decade.
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