Households have taken £1,500 hit in lost income since EU vote – study

Household incomes have taken a £1,500 hit since the Brexit referendum, according to analysis by a living standards think tank.

The UK has experienced the sharpest slowdown in income growth of any comparable economy according to the Resolution Foundation study.

Higher than expected inflation has also contributed to households’ spending power falling far below forecasts from before the 2016 European Union referendum.

The combination meant households had £1,500 less disposable income on average than they would have had under the Office for Budget Responsibility (OBR) pre-referendum forecast.

James Smith…
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