Millions of UK households are set to have £3,000 'wiped' from their incomes as the cost of living crisis worsens.
The Resolution Foundation issued a dire warning as Britain is already experiencing the biggest fall in real pay since 1977. The report from them stated a 10% fall in mean disposable income by 2023-24 "is likely to be the worst for at least a century".
The drop is equivalent to £3,000 for the typical household, reported Birmingham Live. The report also warned there will be a "sharp rise" in the number of people in absolute poverty, projected at over three million between 2021-22 and 2023-24, being the worst two-year change on record.
