IFS: Growth in UK living standards worst in 60 years
by Angela Monaghan from on (#2EEZQ)
The Institute for Financial Studies is predicting that households will be almost 20% worse off by 2021
Britain is in the midst of the weakest growth in living standards in at least 60 years, with low income families faring the worst, a leading thinktank has warned.
Weak earnings growth, together with changes to taxes and benefits, will lead to a rise in inequality by 2021-22, according to the Institute for Fiscal Studies (IFS). In a new report on living standards, poverty and inequality, the IFS says incomes for the average family will not grow at all over the next two years.
Related: IFS warns of biggest squeeze on pay for 70 years over Brexit
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