That’s the Tory record in office, declining living standards with workers left worse off.
The Conservative government will preside over the first parliament in modern history to see a fall in living standards, damning analysis from the Resolution Foundation has found, after Jeremy Hunt’s budget yesterday.
In what is likely to be the last budget, and possibly the final fiscal event before the general election later this year, Hunt’s budget which prioritised tax cuts for the wealthy while doing very little to help those most in need, has been slammed for being out of touch and designed more to save the Conservative Party’s own skin than help the country.
Now damning analysis by the Resolution Foundation think tank has found that the Tories will preside over the first parliament in modern history to see a fall in living standards.
It stated in its analysis: “Across this Parliament (between 2019 and 2025), real household disposable income (RHDI) is set to fall by 0.9 per cent – the first parliament in modern history to see a fall in living standards.”
The Resolution Foundation also found that real average wages are only set to regain their 2008 levels in 2026, a staggering near-two lost decades of pay growth. It stated: “Had pay instead continued along its pre-financial crisis path over this period, the average worker in 2023 would have been around £14,000 better off.”
That’s the Tory record in office, declining living standards with workers left worse off.
Basit Mahmood is editor of Left Foot Forward
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