The UK is on course for the longest fall in living standards since records began in the 1950s, as analysis shows Philip Hammond’s budget will drive up inequality. The Resolution Foundation said the stark downgrade to economic growth revealed by the chancellor on Wednesday means household disposable incomes were now set to fall until 2020. The move will save four out of five first-time buyers up to £5,000. Torsten Bell, the director of the Resolution Foundation, said the stamp duty changes were a “very poor way to boost home ownership”. But that would be cold comfort for Britain’s families given the bleak outlook it paints for their living standards,” he added.

Source: The Guardian November 23, 2017 08:38 UTC