Families hit by biggest squeeze on incomes since Second World War… and there’s years of pain ahead

Becky Barrow
Daily Mail
September 12, 2011

Families are being crippled by one of the biggest attacks on their finances since at least the Second World War, researchers warn today.

The report says the impact of ‘the Great Recession’ is only now being felt – and will continue to inflict pain for several years.

In a bleak analysis the respected Institute for Fiscal Studies warns: ‘The pain was delayed, not avoided.’

And it says families with children are being ‘hit harder’ than others due to controversial changes, such as the freezing of child benefit.

The report says Britons are living through ‘one of the worst decades for changes in living standards since at least the Second World War.’

Between 2003 and 2007, it says, the average family’s income after tax grew by around 0.5 per cent a year.

And it says families with children are being ‘hit harder’ than others due to controversial changes, such as the freezing of child benefit.

• A d v e r t i s e m e n t

The report says Britons are living through ‘one of the worst decades for changes in living standards since at least the Second World War.’

Between 2003 and 2007, it says, the average family’s income after tax grew by around 0.5 per cent a year.

Read full article here

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This article was posted: Sunday, September 11, 2011 at 9:06 pm

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