Free market, tax-cutting economics will not ease the UK’s cost of living squeeze | Richard Partington

Reaching for the tax-cutting playbook won't solve Britain's problems - the current crisis was a decade in the making before Covid

Britain's unfolding cost of living crisis is dominating the headlines. The soaring cost of a weekly shop, a record increase looming for utility bills, and the price of petrol through the roof. Households have never had it so tough.

Yet the squeeze has been in place for longer than the current crisis might suggest. Far from the year of the squeeze, the opening months of 2022 reflect the problems of the past decade, compounded by Covid-19.