Resolution Foundation warns working-age households could lose £1,050 by 2029
The Resolution Foundation warns that a typical working-age household’s disposable income could fall by £1,050 between 2026-27 and 2028-29. It says falling real wages, higher taxes and rising housing costs are set to squeeze incomes, despite recent gains.
The think-tank projects median non-pensioner incomes will grow by 1.8 per cent over the Parliament, equivalent to £600 in current prices, with that growth already achieved. The Office for Budget Responsibility expects no real earnings growth in 2027 and 2028, and says firms may pass on higher National Insurance costs to workers. The Foundation also criticised a £100 energy-bill discount for some homes, saying recipients could still pay more than during the 2022 energy crisis.
In short
- Typical household incomes could fall by £1,050 by 2028-29.
- The forecast reflects weaker wages, higher taxes and housing costs.
- Recent income growth is projected to give way to declines.
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Originally published by Daily Mail as “Households face being £1,050 a year worse off by 2029 as they are hammered by energy crisis and Labour tax raids”.