Britons risk their worst drop in living standards since at least the fifties, according to a study by the Resolution Foundation.
According to the study, more modest households will see (in the coming months) a further decline in income, due to higher taxes, the end of cost of living assistance, and the rising cost of housing. The study shows that the Bank of England's rate hikes to calm inflation, in particular, continue to affect households, especially by causing monthly mortgage payments to rise.
Source (Al-Asharq Al-Awsat Newspaper, Edited)
