British workers missing out on £10,700 a year as living standards fall

Report by Resolution Foundation and LSE calls for economic strategy rethink after 15 years of relative decline

British workers are missing out on 10,700 a year after more than a decade of weak economic growth and high inequality, according to a major report warning that UK living standards are falling behind comparable rich nations.

In a damning report on the economy, the Resolution Foundation and the London School of Economics' Centre for Economic Performance called for an urgent rethink of economic strategy after 15 years of relative decline.