Household incomes across Scotland and the rest of the UK could fall by 4 per cent for working age people in the financial year 2022 to 2023, marking the biggest squeeze since the mid-1970s, according to estimates in the Resolution Foundation's Living Standards Outlook for 2022.
The real incomes drop would represent a fall of £1,000 per household for non-pensioners - a scale of decline which would normally be associated with recessions - according to researchers.
However, the think-tank said the fall would have been worse without the £350 boost to incomes the UK Government's energy rebates package will give to millions of households.
