Think tanks warn of weak household-income growth in the 2020s

Economic think tanks have warned that the 2020s could be the worst decade on record for household-income growth.

The Resolution Foundation said incomes may fall. Typical households may have £1,050 less by 2029.

This is a 3% fall. The Institute for Fiscal Studies said the 2020s may be the worst decade.

The government announced £100 for energy bills. Around 20 million households may get it.

But the Resolution Foundation said bills may still cost more.

Reports showed pressure on future budgets. Spending plans may tighten around 2030.

Helen Miller spoke for the IFS. She said spending may slow sharply.

This slowdown supports key borrowing targets.

Section: Business

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