A pretty grim picture’: UK living-standards outlook slashed despite Healey’s budget

The Office for Budget Responsibility says UK household disposable incomes, adjusted for inflation, are expected to fall 0.6% next year, a reversal from its previous forecast of 0.6% growth. The watchdog cited higher energy costs linked to conflict in the Middle East. Chancellor John Healey’s first budget includes a £100 payment for 20 million households and support, but the OBR says living-standard growth will remain weak. By 2029, disposable incomes are forecast to be only 1% above their 2019 leve