Living standards will rise slightly next year for the less well off – but only after investment in public services is taken into account, a report says today.
Households’ disposable incomes will fall overall next year but “real living standards” – taking into account the benefits-in-kind people get from using public services – will rise slightly for those in the bottom half of the income distribution, analysis by the Resolution Foundation said.
The think tank’s interim chief executive Mike Brewer said the “Budget tax-rise gamble from the Chancellor is that, while people may not be better off in purely financial terms, they will feel better off if we can have better, less dysfunctional public services”, and that this will pay off for some next year.
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