Falling incomes will push 600,000 more children into poverty over the next two years. Youth unemployment is expected to soar past one million.
And the Tories are cutting public sector jobs at five times the rate originally predicted. This is the horrifying situation facing working class people in Britain.
The poverty figures come from a new report by economic researchers at the Institute for Fiscal Studies (IFS).
It predicts that 3.1 million children in Britain will be living in poverty over the next financial year—more than a fifth of all children.
Around 800,000 more working-age adults will have been pushed into poverty by 2012–13.
Average incomes are expected to fall by 7 percent—the sharpest drop in 35 years.
The government claims its new “universal credit” for people on benefits will deal with these problems by “encouraging people into work”.
But the IFS says universal credit will not prevent “a decade of rising poverty”.
The Tory cuts agenda will make poverty worse, not better. It won’t make bosses pay better wages. Nor will it rustle up jobs for the millions unable to find work.
Meanwhile the government is itself forcing pay and job cuts on millions of workers. Public sector job cuts will be 50 percent higher than even the government’s own predictions, according to the Chartered Institute of Personnel and Development.
These figures make a mockery of Tory rhetoric about “economic recovery”.
The truth is that the Tories want us to pay for their system’s crisis. But millions of workers are getting set drive them back on 30 November.