UK living standards grow in slowest pace since 2012

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UK living standards grow in slowest pace since 2012

July 24, 2018 - 14:00
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During last year living standards in the UK grew in slowest pace since 2012, Bloomberg reports. Revenue recovery that took place after crisis now reversed its direction in case of poorest 30% of country's families.

Photo © Pedro Figueras, CC0 1.0

During last year living standards in the UK grew in slowest pace since 2012, Bloomberg reports. Revenue recovery that took place after crisis now reversed its direction in case of poorest 30% of country's families.

Typical disposable income after housing costs increased by just 0,9%. Its rise is restricted by growing inflation after 2016 Brexit referendum. Poorer families lost 0,3% of their income. Annual losses account for 150 pounds, since higher wages and lower taxes have not compensated cut in tax credits and child benefits.

Analytics think that while implementing wider program for cutting benefits and payments by 14 billion pounds during many years, government shall evaluate its influence on families with lower income.