History Today
Average household incomes have fallen for the first time in a decade, says the Institute of Fiscal Studies (IFS). The IFS says income after tax and benefits fell by 0.2% between 2003 and 2004, due partly to rises in national insurance payments in the 2002 Budget. But the IFS says the incomes of the poorest people in Britain grew between 2003 and 2004, partly because of new, more generous tax credits.
In response, the Treasury described the IFS research as "complete rubbish
In reply Robert Chote, Director of the IFS, told Gordon Brown that he was 'ugly'. Brown countered with an allegation of sexual misconduct against Chote's mother, forcing Chote to remind Brown of his parentage, which was less than satisfactory. More soon...
posted by Matthew @ 3/31/2005 08:31:00 AM
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