Two groups of financial experts ripped George Osborne's Autumn Statement to bits today, as it emerged it would leave millions of people thousands of pounds worse off.
Both the Institute for Fiscal Studies and the Resolution foundation showed the Chancellor's claim he was easing the burden of austerity to be a sham.
It will come as a major blow to the Chancellor, whose long term economic plan is rapidly unravelling.
Here's some of the ways experts say the Chancellor is making a mess of the economy and making hard working families worse off.
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1. 2.5million families will lose £1,600 a year
More than 2.5million working families will still be stripped of £1,600-a-year from their household budgets despite George Osborne’s humiliating tax credit U-turn.
The Institute for Fiscal Studies said the Chancellor’s decision not to also reverse cuts to the new Universal Credit system mean that over the long-term welfare “will be cut just as much as was ever intended”.
At a post-Spending Review briefing in London, IFS chief Paul Johnson said for all his warm words, Mr Osborne is slashing support for the poor back to the dark days of Margaret Thatcher.
2. ...and the families hit the hardest are the ones Osborne says he's helping
The IFS has explained who the big losers are...and they sound suspiciously like precisely the people George Osborne promised he would help.
It is couples with children, where both parents are working on low incomes and who own their own home.
"People who want to work hard and get on," you might say.
3. He'll never hit his targets - but the IFS say he's used to that
IFS chief Paul Johnson warned Mr Osborne had set some "completely inflexible targets" in his Spending Review.
But he said: “Abandoning targets, of course, the Chancellor is getting used to.
“He did that yesterday with his self-imposed welfare cap.”
Burn.
4. He isn't fixing the roof while the sun is shining
George Osborne's excuse for making huge cuts while the economy limps to recovery is that we should "fix the roof while the sun is shining."
But that appears to be nonsense.
The Resolution Foundation worked out that of the £27bn in extra money he's found down the back of the couch, only a third is being spent on reducing borrowing.
The remaining two-thirds - a whopping £18.7bn - was been spent in yesterday's speech.
It's like Black Friday came early for George, and millions will STILL be worse off.
5. Local councils will have cut spending by 79% by 2020
By the end of the parliament, councils will have had to cut their day-to-day spending by 79% over a decade.
Just have another look at that number. 79%.
Here's a graph, if that helps.
Sneaky George Osborne is passing reductions on to local authorities under the rug by tearing up the system for business rates and extending devolution.
Here’s our expert analysis of why that’s a terrible idea.
It seems the IFS agrees.
6. Osborne had to BEG independent experts not to let on how badly he was doing
Our deputy political editor says the Chancellor had to beg his own independent watchdog not to rap him over breaching the welfare cap.
Earlier the IFS’ experts said disability benefits alone have been enough to force the Chancellor to break his self-imposed spending limit.
They have had a ‘quite significant upwards revision’, experts said.
7. These two astonishing graphs that prove the poor will be hit harder than the rich
Even after performing a screeching, and humiliating u-turn on tax credits, the IFS reckon in the long term it'll make no difference.
The pink line is what would have happened before yesterday's announcements, the yellow line is after.
The immediate effect - shown in the first graph - makes it look like the pain is being eased.
But the second graph shows that after five years, the cuts will bite just as hard as they would have anyway.
Also these two graphs show the poorest families will be 6% worse off after five years of the tax and welfare changes - while the richest will be 0.5% better off.
8. The poorest 50% of families will be £650 worse off under Universal Credit
Another shocking headline figure, this time from the Resolution Foundation.
By 2020, by which time everyone will be on Universal Credit rather than individual benefits, the poorest half of families in the country will be, on average, £650 worse off.
Universal Credit is MUCH less generous than the current system.
9. The fallout could last for decades
The measures the Government is having to put in place to protect those losing out could last for decades.
“The last person to come off transitional protection will probably be in 2040 or something,” joked IFS chief Paul Johnson.
Though when it came to the 2040 date, he added to laughter: “Don’t quote that, I made that up”