Ed Miliband's response to the Budget focused on the OBR's downgrading of growth figures. Osborne failed to mention that an additional 130,000 people will be unemployed in 2012.
Ed Miliband’s response to the Budget focused heavily on the OBR’s downgrading of the growth figures from 2.6% last June to 1.7% in the Budget. But Osborne failed to mention a further piece of bad news: the OBR anticipates an additional 130,000 people will be unemployed in 2012.
Table C2 of the June Budget estimated that the claimant count would be 1.5 million in 2011, 1.4 million in 2012, and 1.3 million in 2013. The revised figures in Table C1 of today’s Budget – reproduced below – estimate that the claimant count will be up 40,000 in 2011, up 130,000 in 2012, and up 130,000 in 2013.
Meanwhile, the ILO measure of unemployment jumps 0.2% in 2011, 0.5% in 2012, and 0.6% in 2013.
So much for a Budget for jobs and growth.