Nightmare in Britain: The biggest drop in living standards in a century is coming

The outlook for the standard of living of Britons in the coming years is described as “frankly terrifying” by a major new survey by the Resolution Foundation think tank, which studies the living conditions of the most vulnerable citizens.

According to the researchers, British households will face the strongest pressure on their living standards for a century, according to Th. Gavos from SKAI.

Real disposable income is expected to fall by 10% this year and next, as real family income falls at the fastest rate since 1997. This means that by the middle of next year real wage increases from 2003 onwards will have essentially lost.

A 10% drop in disposable income is equivalent to £3,000 a year for a low-income household. This in turn implies an increase in the number of citizens on the poverty spectrum by three million to 14 million.

Relative child poverty, moreover, is predicted to rise to 33% in four years. The last time one in three children lived in poverty in the UK was in the 1990s.

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Similar predictions for a dramatic increase in child poverty in the country are made with its own report by the aid organization Save the Children Scotland, calling on the governments of London and Edinburgh to immediately help the poorest families.

Save the Children’s policy director Fiona King said: “No one can overstate the simple fact that the coming months will be devastating for families and especially children who will be left cold and hungry this winter unless urgent action is taken now”.

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h/t Armageddon Thru To You?

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