UK Living Standards Lagged Most Wealthy Nations Under Tory Rule
- IFS analysis finds a marked slump in disposable income growth
- UK slips down international table on living standards gains
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Britain’s ruling Conservative Party presided over living standards that lagged most wealthy nations since it took office in 2010, a period where household finances have been battered by a series of international and domestic crises.
The Institute for Fiscal Studies estimated that real household disposable incomes grew by just 5.9% between 2009-10 and 2022-23. That’s well below the 30% growth that would have been expected if trends from the prior half century continued.