Households 'face five years of falling disposable incomes' as grim Budget forecasts slash size of the UK economy by £42bn



British households are staring at five years of falling spending power according to one think-tank's analysis of the drastic downgrades to economic growth forecasts in yesterday's Budget.
The Office for Budget Responsibility's cuts to this year's expected growth rate and to the outlook for the next four years mean that the UK economy will be £42billion smaller in 2022 than was thought in March.
And a report from the Resolution Foundation today suggests that this means real household disposable incomes are set to fall for 19 successive quarters between 2015 and 2020.
The 'unprecedented'... read more

 
23 November 2017 in Business, Views: 48
Source: Daily Mail
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