Today news
About the same in other media
09.11 - 19:21
Squeeze on UK incomes to last until late 2023, says OBR
Reading now: 169
British households will remain worse off than before the pandemic until 2023 as rising inflation hits living standards, the Treasury’s economics watchdog has warned as Rishi Sunak sought to defend his budget.
Charlie Bean, a former Bank of England deputy governor and board member of the Office for Budget Responsibility, said that growth in household incomes, after taking account of inflation, would effectively stall over the next two years.
Answering questions from MPs on the Treasury committee on Tuesday, he said: “We don’t have real household disposable income getting above pre-pandemic levels until the back end of 2023, and it’s growing at a pretty mediocre rate from then on.”
The OBR issued forecasts alongside last week’s budget showing
Read more on theguardian.comAbout this in other media
Push ahead with register of foreign owners of UK properties, says Labour theguardian.com /2 years ago
Bank of England says no Britcoin before 2025 fnlondon.com /2 years ago
Walkers crisps shortage could last until end of month after IT glitch theguardian.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
