No pay rise for 15 years, IFS warns UK workers

Thinktank's post-budget analysis says average wages will be no higher in 2022 than in 2007 with weak pay growth exacerbated by looming welfare cuts

Workers in Britain are on course to suffer an unprecedented 15 years of lost earnings growth and have been warned to prepare for a third successive parliament of austerity by a leading thinktank.

Analysing Philip Hammond's spring budget, the Institute for Fiscal Studies (IFS) said that after suffering a lost decade of earnings growth, households were now about to be hit by big welfare cuts.

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