Family outside a house including a man, woman with a small child on her hip and another small child riding a scooter in the foregroundImage source, Getty Images
ByLucy HookerBusiness ReporterUpdated 1 hour ago

People are facing a "painful" and "depressing" few years ahead, economic think tanks have warned, after forecasts showed growth in living standards grinding almost to a halt.

Typical working-age households would see their disposable income fall by £1,050, or 3%, between now and 2029, according to the Resolution Foundation, while the Institute for Fiscal Studies (IFS) said the current decade would be the worst for household income growth on record.