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IFS director warns of 'grim' news for living standards

Video Credit: ODN - Duration: 00:30s - Published
IFS director warns of 'grim' news for living standards

IFS director warns of 'grim' news for living standards

The Institute for Fiscal Studies has warned of a "grim time" for living standards after the Office for Budget Responsibility forecast that household incomes would fall by seven per cent over the next two years.

Director Paul Johnson said: "That will be the biggest fall in living standards possibly in history, certainly for a very, very long time." Report by Buseld.

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Office for Budget Responsibility Office for Budget Responsibility Advisory non-departmental public body in the UK

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Credit: ODN    Duration: 00:56Published