‘Painful’ Years Ahead, Think Tanks Warn, as UK Living Standards Set to Fall

UK households face a difficult period as forecasts show living-standard growth slowing sharply. The Resolution Foundation estimates that typical working-age households’ disposable income will fall by £1,050, or 3%, between now and 2029. The Office for Budget Responsibility expects living standards across all households to grow by less than 0.1% annually by decade’s end. Chancellor John Healey says a £100 energy-support payment will provide breathing space, but the Resolution Foundation says it will not fully offset higher bills. The Institute for Fiscal Studies calls this decade the worst on record for household-income growth