As the IFS says, the UK is recovering from the 'longest and deepest' recession in a century.
Despite this, the labour market has remained strong: one-and-a-quarter-million private sector jobs have been created and more people are in private sector employment than ever before.
The Government understands the pressures that households face with the cost of living and has taken action to help including increasing the personal allowance, taking 2.7 million people out of income tax altogether and saving a typical taxpayer over £700, and freezing fuel duty for nearly three-and-a-half years.
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Another cold, frosty and foggy night for many. Northern and western areas will see thickening cloud, patchy rain and milder temperatures.
Temperatures have already plunged to -12C in some parts of the UK this winter - but Thursday could be the coldest day yet.