Labour could oversee worst parliament on record for living standards, study warns
News Source
β’Wed, 07 Oct 2026 16:30:55 GMT
π° What Happened
A new study warns that the UK faces its worst parliament for living standards in modern times. The Joseph Rowntree Foundation blames high energy and housing costs. It predicts average household incomes, after housing, could be 440 to 770 pounds lower in real terms by 2029-30 than when Labour took office. The group says bold action is needed.
π The Backstory
The UK has faced a cost of living crisis for several years. Wages have not kept up with rising prices for energy and rent. Even the smaller predicted fall would be the biggest drop since records began in 1961. The warning comes just weeks before the budget. Households are already cutting back on spending.
π― Why It Matters
Falling living standards mean families have less money for food, heating and rent. The budget decisions could shape how hard the next few years feel.
A new study warns that the UK faces its worst parliament for living standards in modern times. The Joseph Rowntree Foundation blames high energy and housing costs. It predicts average household incomes, after housing, could be 440 to 770 pounds lower in real terms by 2029-30 than when Labour took office. The group says bold action is needed.
The UK has faced a cost of living crisis for several years. Wages have not kept up with rising prices for energy and rent. Even the smaller predicted fall would be the biggest drop since records began in 1961. The warning comes just weeks before the budget. Households are already cutting back on spending.
Falling living standards mean families have less money for food, heating and rent. The budget decisions could shape how hard the next few years feel.