Rising Taxes to Squeeze UK Living Standards for Longer, OECD Says
- Higher tax burden to outweigh return of real income growth
- Paris-based OECD issues assessment in latest economic outlook
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Rising taxes mean UK households face several more years of falling living standards even though inflation is coming down, the Organisation for Economic Cooperation and Development said.
The Paris-based institute said in its biannual economic outlook that real wages will “finally grow” as pay outstrips prices, but “higher fiscal pressure will reduce household disposable income.”