Look-ahead to the Budget on Wednesday

The video discusses the impact of rising inflation on British households, highlighting the financial struggles faced by families due to stagnant wages and increasing living costs. It compares different measures of inflation, showing how real wages are affected. The video also explains how the referendum has accelerated inflation by devaluing the pound, making imports more expensive. The Chancellor's upcoming budget is expected to confirm further inflation increases, despite promises to support working families.

What is a significant concern for families in London with parents on working tax credits?

• Rising cost of living without wage increases

• Lowering inflation rates

• Decreasing supermarket prices

• Increasing benefits

How does the price stats measure of inflation compare to the official CPI?

• It is lower than the CPI

• It is higher than the CPI

• It is equal to the CPI

• It does not measure inflation

What does the price stats inflation measure suggest about real wages?

• Real wages are increasing significantly

• Inflation is completely eroding wage increases

• Real wages are unaffected by inflation

• Wage increases are outpacing inflation

What has the referendum done to inflation according to the transcript?

• Stabilized inflation

• Had no effect on inflation

• Decreased inflation

• Pushed up inflation faster

Why might the government struggle to help ordinary working families despite promises?

• Due to a surplus in the budget

• Because of a lack of inflation

• Because of the size of the deficit

• Due to decreasing import costs