the budget of Chancellor Rachel Reeves will further reduce disposable income and cause wages to stagnate over the next five years.
According to the Resolution Foundation, when inflation is taken into account, household disposable income, or living standards, will be at their lowest levels under any Labour government since 1955.
According to the think tank, salary will remain stagnant in the middle of parliament as growth slows in an already difficult economic climate and increased inflation reduces pay increases.
According to the foundation’s study, real wages, or pay adjusted for inflation, will have increased by an average of only £13 per week over the previous 20 years by 2028.
