Budget: UK ‘investing too little as living standards stagnate’

Taxes on track to hit a 70-year high and will be 4.7% higher than in 2019-20, says Resolution Foundation

• Budget 2023: key points at a glance

The UK is investing too little and growing too slowly while living standards stagnate, a thinktank has said following the chancellor’s budget.

The Resolution Foundation said Jeremy Hunt announced an “impressively broad suite of policies to encourage more people into work” but added that Britain’s economy remains in a “deep funk”.