Resolution Foundation warns of falling living standards
Current overview (not historical)
The Resolution Foundation predicts that disposable income for typical working-age households will decline by 3% by 2029, reducing annual income by approximately 1,050 pounds. Think tanks warn of painful years ahead, with the Institute for Fiscal Studies stating this decade will be the worst for household income growth in British history. Despite a 100-pound energy subsidy, the government faces fiscal pressure struggling to offset high energy bills and broader cost-of-living pressures.
Written with AI from the reporting · updated 10/29/2026
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- 1Unclassified fact stationOct 29, 21:28single sourcereport-time onlyrevised
Resolution Foundation warns of falling living standards
Read original source ↗ BBC BusinessReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- Resolution Foundation
- Action：
- warned of falling living standards
- Object：
- Typical working-age households
- Occurred (fact side)：
- not recorded
- Published (valid side)：
- Oct 29, 21:19
- First seen (known side)：
- Oct 29, 21:28
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- BBC BusinessRelated fact: single sourceFact occurrence time unverifiedSource report revisedThink tanks warn of painful years ahead as living standards set to fall
Report first recorded Oct 29, 21:28
According to the Resolution Foundation and the Institute for Fiscal Studies, typical working-age households in the UK are set to see disposable income fall by £1,050, or 3%, by 2029. The Office for Budget Responsibility attributes the difficult financial situation to higher borrowing costs and inflation linked to the US-Iran war. While Chancellor John Healey announced a £100 energy support payment for around 20 million households, think tanks say this will not be enough to offset rising energy bills and broader cost-of-living pressures.
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