Understanding the Budget Through Charts: Living Standards, Borrowing, and Growth

BBC economics editor Faisal Islam walks through key charts to explain the latest budget delivered by Chancellor John Healey. The discussion covers household living standards over the decades, the government's borrowing forecast and market reaction, and the OBR's economic growth projections, offering a clear visual way to interpret political claims and hard numbers.

■ Household Living Standards
- IFS chart showing growth in real household disposable income by decade
- Comparison of post-war growth, the 2010s slowdown, and the flat 2020s
- Discussion of how repeated shocks and AI could affect future incomes

■ Borrowing and Market Reaction
- Forecast showing higher borrowing in every year, with the fiscal consolidation timeline shifted out
- Bond yield movements in the days surrounding the budget

■ Economic Outlook
- OBR forecast upgrades and downgrades, including the impact of an energy shock
- Assessment of the budget's overall economic strategy and long-term growth plans

This is suited for viewers who want to make sense of budget announcements without relying solely on political messaging. It helps you learn to read economic charts, compare competing claims, and understand what the figures mean for the economy.