The “squeezed middle” is being forced to endure a lower standard of living more than a decade on from the credit crunch, keeping consumer spending growth below pre-crisis levels.
The EY Item Club predicts that real take-home pay in 2017 will still be below the rate in 2007 because of subdued wage growth.
The economic forecaster’s report will make for uneasy reading for George Osborne as he prepares to address the Conservative party conference today, and it is compounded by further evidence from a free market think-tank of the existence of a “cost of living crisis”.
Read it all (requires subscription).
([London] Times) Britain caught in a lost decade for pay
The “squeezed middle” is being forced to endure a lower standard of living more than a decade on from the credit crunch, keeping consumer spending growth below pre-crisis levels.
The EY Item Club predicts that real take-home pay in 2017 will still be below the rate in 2007 because of subdued wage growth.
The economic forecaster’s report will make for uneasy reading for George Osborne as he prepares to address the Conservative party conference today, and it is compounded by further evidence from a free market think-tank of the existence of a “cost of living crisis”.
Read it all (requires subscription).