Britons facing biggest drop in living standards – The Times

Households will experience the biggest fall in their living standards since records began as they face soaring inflation, tax increases and rising energy bills.

In a bleak assessment of the year ahead, the Bank of England warned people that take-home pay would fall by five times the amount it did during the financial crisis of 2008. It will be the worst hit to real incomes since comparable records began in 1990.