UK: Worst Living Standards Decline Ever

Britain is slated to see its worst drop in living standards ever recorded. Over one million people face being thrown into poverty.
1.3 million people in the United Kingdom will soon fall into poverty, partially as a result of recent economic decisions made by Chancellor of the Exchequer Rishi Sunak, a report has claimed.
It comes as multiple publications predict that Britons will soon face the worst downturn in living standards ever recorded.
According to the Office for Budget Responsibility, disposable incomes are set to drop by 2.2 per cent this year, which it says will result in the worst living standards drop since records began in the mid-1950s.
This prediction has also been backed up by the Resolution Foundation think-tank, which also notes that it expects 1.3 million people in the country to soon be thrown into poverty.
“Taking into account the measures announced by the Chancellor, the typical working-age household faces an income fall of 4 per cent, or £1,100, in 2022–23,” a report by the think-tank reads. “But the greatest falls will be felt by the poorest quarter of households who are set to see th …

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