Austerity Strikes Back: Living Standards Set To Tumble As Britain’s ‘Mini-Boom’ Ends

‘British living standards are set to crash as the “mini-boom” witnessed over recent years comes to an end, dragging income growth down to just 0.5 percent.
According to research by the Resolution Foundation, households in the UK are gradually becoming poorer, as family incomes endured “subdued” increases of 3 percent in 2014/15 and 1.5 percent in 2015/16.
“After a tight squeeze during the crisis, working age households have enjoyed a living standards mini-boom in recent years,” said the think tank’s economic analyst Stephen Clarke.’
Read more: Austerity Strikes Back: Living Standards Set To Tumble As Britain’s ‘Mini-Boom’ Ends