UK living standards see worst decline on record
The country is set to avoid a recession but Britons face the highest taxes since WWII, an official report shows
Britons are facing the biggest decline in living standards since records began in the 1950s, and the highest taxes since World War II, as the economy grinds to a halt this year, the Office of Budget Responsibility (OBR) reported on Wednesday.
According to the report, real household disposable income, a measure of real living standards, will drop by 5.7% over the financial years 2022-23 and 2023-24.
“While this is 1.4 percentage points less than forecast in November, it would still be…
