A new forecast warns that all UK families could see their average living standards fall by 2030. The report, conducted by the Resolution Foundation, predicts that the average household income in the UK will be 18% lower in 2030 compared to pre-pandemic levels.
The forecast attributes this decline in living standards to a combination of factors, including slower economic growth, rising inflation, and the impact of the COVID-19 pandemic on the economy. The report also highlights the potential for further austerity measures and cuts to public services, which could exacerbate the decline in living standards for UK families.
The Resolution Foundation warns that this decline in living standards could have serious consequences for families across the UK, particularly those on low incomes. The report calls for urgent action to address these challenges and ensure that all families have access to the support they need to weather the economic storm.
Overall, the forecast paints a bleak picture of the future for UK families, with the potential for significant declines in living standards over the next decade. It is clear that action is needed to address these challenges and ensure that all families can thrive in the years to come.
This image shows Sir Keir Starmer, the leader of the Labour Party in the UK. The article discusses how his government could potentially be the first to see living standards fall since 1955, according to the Joseph Rowntree Foundation. This is a concerning prediction for the future of the country under his leadership.
A new forecast warns that all UK families could see their average living standards fall by 2030. The report, conducted by the Resolution Foundation, predicts that the average household income in the UK will be 18% lower in 2030 compared to pre-pandemic levels.
The forecast attributes this decline in living standards to a combination of factors, including slower economic growth, rising inflation, and the impact of the COVID-19 pandemic on the economy. The report also highlights the potential for further austerity measures and cuts to public services, which could exacerbate the decline in living standards for UK families.
The Resolution Foundation warns that this decline in living standards could have serious consequences for families across the UK, particularly those on low incomes. The report calls for urgent action to address these challenges and ensure that all families have access to the support they need to weather the economic storm.
Overall, the forecast paints a bleak picture of the future for UK families, with the potential for significant declines in living standards over the next decade. It is clear that action is needed to address these challenges and ensure that all families can thrive in the years to come.
https://www.independent.co.uk/news/uk/politics/living-standards-reeves-starmer-forecast-b2719956.html
