At a glance

■ People will suffer the largest fall in living standards since records began in 1956

■ Unemployment is expected to rise by 500,000 to a peak of 1.7million

■ Everyone earning more than £12,570 will pay more income tax as personal allowances are frozen

■ House prices are forecast to fall by 9% because of higher mortgage rates

■ Council tax will rise by 5% in most places, adding £250 by 2027 to a typical annual bill

■ The tax burden will rise to its highest level since the Second World War