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Two leading think-tanks delivered their verdict on Philip Hammond's budget today - and the results weren't pretty.

First up was the Resolution Foundation - a think tank aimed at raising the living standards of low and middle income people.

Then there was the verdict from the hugely respected Institute for Fiscal Studies (IFS), who perform research into the impact of fiscal policies on families and individuals.

Both reports gave a gloomy view of Britain's future after seven years of Tory rule - and had little in the way of optimism for the immediate future.

And a few of the claims and policies trumpeted by the Chancellor in his make-or-break Budget were royally torn to pieces.

Here's a round up of the pummelling Philip Hammond's November Budget is taking, just 24 hours after he delivered it.

1. Wages aren’t growing as fast as promised

"This is not just an economic plan. It is a key part of our vision for a fairer Britain. A Britain where every one of our citizens can contribute to, and share in, the benefits of prosperity."

The IFS say the median average wage in the early 2020s will still be way below where it was before the 2008 crash.

In fact, today’s forecast is down by £1,400 compared to the forecast made in March 2016.

2. The age of austerity has been extended for at least another year

"As well as reducing debt, we can also invest in Britain’s future. Support our key public services. Keep taxes low. And provide a little help to families and businesses under pressure."

While there has been a modest increase in planned departmental spending, it’s still projected to be historically very low until at least 2022-23. Day to day spending on public services has fallen in real terms, with a 3.2% cut forecast.

Hammond would have had to spend an extra £10bn to keep overall spending per-capita at the rate it is now.

3. The UK's economic forecasts are worse than any other G7 nation

"I report today on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down."

The IFS say there's a global slowdown in economic productivity, but the UK is set to perform worse than its economic competitors.

4. And productivity growth is the worst it's been since 1812

"By continuing to invest in Britain’s infrastructure, skills and R&D we will ensure the recovery in productivity growth that is the key to delivering our vision of a stronger, fairer, more balanced economy."

According to the Resolution Foundation, the economy is set to be £42 billion smaller in 2022 than economists believed it would be just eight months ago, with productivity growth slower than at any time since 1812.

They describe the cuts to the UK's fiscal forecasts as "truly catastrophic".

5. The impact of Tory tax and benefit changes still hit the poorest hardest

"The poorest 10% have seen their real incomes grow faster since 2010 than the richest 10%"

This IFS graph shows the long run impact of all the tax and benefit reforms introduced by the Tories since 2015.

The yellow blocks show the expected impact from the changes in yesterday’s Budget.

As the graph shows, the poorest 20% of households still lose out by up to £1,450 a year, which is slightly than in the March Budget. And with the exception of the top 10%, the highest earners will be better off to the tune of more than £500.

But even the top 10%, who will be £20 or so worse off, will lose less than they would have done after the previous Budget.

According to the Resolution Foundation, Britain’s poorest households are set to lose £715 a year, while the richest gain £185 as a result of Tory budget changes since 2015.

Their analysis found Britain faces the longest period of falling living standards since records began in the 1950s.

The future for family finances is "unremittingly grim" with pay forecast to be £1,000 a year lower on average than the OBR thought in March.

6. The rollout of Universal Credit has now been delayed FIVE times

"The switch to Universal Credit is a long overdue and necessary reform."

This astonishing graph from the IFS illustrates the extent to which the . Each line shows a projected rollout schedule for Universal Credit. The rollout has now been delayed or slowed five times.

7. The NHS is seeing its worst ever decade for funding

"Our NHS is one of our great institutions. An essential part of what we are as a nation. And a source of pride the length and breadth of the country. Its values are the values of the British people, and we will always back it."

Taken as a 10 year average, the increase in funding to the NHS is the lowest on record - even when the Chancellor’s modest cash injection is taken into account.

8. The Housing plan is very…ambitious

"We send a message to the next generation that getting on the housing ladder is not just a dream of your parents’ past. But a reality for your future."

The 300,000 target for annual house building - which apparently includes property conversions in the figures - is extremely ambitious. To hit it he’ll have to take the number of completions from a near historic low to the highest its been since the early 1790s by 2025. The IFS say it’s impossible to say with any certainty how many new houses the government’s policies will deliver.

9. The stamp duty cut could drive up prices by 5 or 6 time the amount first time buyers will save

"When we say we will revive the home-owning dream in Britain. We mean it."

The OBR’s assessment of the budget yesterday warned cutting stamp duty would mostly benefit people who already own houses, by driving up house prices by 0.3%.

They suggested the increase in prices would be around twice as much as buyers would save from not paying stamp duty.

But the IFS think this could be a conservative estimate, adding in the briefing that it could push prices up by £5 or 6 for every £1 saved in the tax relief.

They do say some first-time buyers will gain because the drop in up-front taxes will mean they can buy a more expensive house.

But the OBR suggested the multi-million pound policy would only create a handful of new first time buyers a year - and those stuck renting will get no help.

10. In fact, it might have been cheaper to just buy all the new first time buyers a house

(Image: AFP)

"I know we will not build it overnight. But in this Budget we will lay the foundations."

The Resolution Foundation estimate the stamp duty cut will cost £160,000 for every new home owner it will create, meaning the Chancellor could have bought each of them a typically priced house outright in a quarter of local authorities and it would have cost the country less money.

11. Poor people's vices are getting much more expensive - but rich people's aren't

"Recognising the pressure on household budgets. And backing our Great British pubs. Duties on other ciders, wines, spirits and on beer will be frozen."

The biggest duty increase in yesterday's budget was on the price of cigarettes - which was put up by 4.9% for the second time in less than a year.

On the average premium packet of 20 cigarettes, that amounts to 49p a pack - or £178 a year for a 20-a-day smoker.

It's very hard to argue with putting up the price of cigarettes - they do, after all, cause cancer and untimely death.

But alcohol taxation remains largely unchanged, despite it being responsible for more than twice as many hospital admissions than smoking.

In this arresting graph, the Resolution Foundation points out the astonishing distributional impact of smoking taxes on the poorest compared to the richest.

In general, higher income households tend to spend more of their income on alcohol - and the opposite is true for cigarettes, with the poorest paying the most.

On top of that, the one alcoholic beverage that did get an extra tax slapped on it yesterday was....high strength, low cost white cider.

So the impact of 'vice taxes' introduced by Hammond on the poorest yesterday will be vastly disproportionate. As the Foundation say, "choose your vice wisely."