2025 Budget forecasts small income gains, with middle-income households potentially worse off and child poverty unaddressed.
The Economic and Social Research Institute (ESRI) reports that Budget 2025 will lead to small income gains for households, aligned with a forecast 4.2% wage growth. However, middle-income households may see smaller benefits and are, on average, worse off compared to previous budgets. The budget fails to address child poverty effectively, with potential increases in poverty risk for pensioners and disabled households due to cost-of-living measure withdrawals.
October 04, 2024
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