UK households’ spending power to drop by £3,000, warns thinktank

Resolution Foundation says rising energy bills will push extra 3 million people into poverty

• Cold homes will cost children's lives, warn experts

Households in Britain will see their spending power cut by an average 3,000 by the end of next year unless the new government acts to counter the biggest drop in living standards in at least a century, research has indicated.

Adding to pressure on Boris Johnson's successor as prime minister to tackle a worsening cost of living crisis, the Resolution Foundation thinktank said soaring energy bills would cut household incomes by 10% and push an extra 3 million people into poverty.