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.
More top news
Four QPR hooligans caught on CCTV reeking havoc and attacking rival fans have been jailed.
Ex CPS boss says it was a "serious failing" by prosecutors not informing him of an investigation into allegations against Lord Janner.
Today there'll be plenty of sunshine across the British Isles with wispy cloud towards the coast.