UK workers ‘will miss out on pay rises worth £15,000 over next five years’

Resolution Foundation says real wages not expected to return to 2008 levels until 2027

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Jeremy Hunt's autumn statement will mean Britain's workers have endured a two-decade wage stagnation costing 15,000 a year as the chancellor's tax-heavy budget piles more pressure on the nation's squeezed middle".

Figures published alongside Jeremy Hunt's autumn statement on Thursday by the Office for Budget Responsibility said the UK was in a recession that would wipe out eight years of growth, with British households set to face the biggest fall in living standards since records began.