Labour is on course to preside over the worst parliament for living standards in modern times, according to a stark analysis from the Joseph Rowntree Foundation reported by the Guardian.
The thinktank said soaring energy and housing costs threaten the biggest decline in living standards in modern times unless the government takes decisive action.
The foundation warned that Britain faces a “dire” outlook unless the government takes “bold policy action”, according to the Guardian.
The warning comes three weeks ahead of John Healey’s budget, placing added pressure on the government as it prepares its fiscal plans.
The analysis frames energy and housing costs as the central drivers of the potential decline, highlighting pressures faced by households across the country.
With the budget imminent, the foundation’s call for bold measures signals the scale of the challenge facing ministers seeking to improve household finances.
Why it matters
Living standards directly affect millions of households facing high energy and housing costs. The warning raises the stakes for the upcoming budget, where the government's policy choices could determine whether family finances improve or deteriorate.
Frequently asked questions
Who produced the living standards warning?
The Joseph Rowntree Foundation produced the analysis, as reported by the Guardian.
What are the main causes of the projected decline?
The analysis cites soaring energy and housing costs as the primary threats to living standards.
When is the budget that the warning precedes?
The analysis was published three weeks ahead of John Healey's budget.