*In fact, the findings – based on figures from the Organisation for Economic Co-operation and Development (OECD) – real household disposable incomes were still 1.2% lower in the second quarter of 2023 than they were at the end of 2019, shortly before the first lockdown hit.*
*Meanwhile, across the G7, real household disposable incomes grew by 3.5% on average – although there was still significant range between countries.*
*The US saw an increase of 6%, Canada 3%, France 2.4%, Japan 0.5%, Germany 0.2% and Italy 0.1%.*
*The trade union body also estimated that British families would be £750 better off each year if the UK’s real disposable income had kept up with the other leading economies.*
*TUC general secretary Paul Nowak said the findings were a “damning indictment on the Conservatives’ economic record”.*
*He added: “Their failure to deliver decent growth and living standards over the last 13 years has left millions exposed to skyrocketing bills – and is pushing many deeper into debt.*
*“We can’t go on like this. Britain cannot afford the Tories for a day longer.”*
*Although* [*Rishi Sunak*](https://www.huffingtonpost.co.uk/news/rishi-sunak) *did manage to deliver on his pledge to halve inflation by the end of 2023 (cutting it to 3.9%), predictions from the Office for Budget Responsibility predict disposable income per person will fall by an extra 3.4% by the end of 2024′s first quarter.*
*The same forecasts suggest we won’t be back on track with disposable income until 2026, while living standards will not return to their 2008 levels until 2028.*
*The union estimated that since the financial crash 15 years ago, the average worker has lost £14,800 as the UK has fallen behind real wage trends.*
*TUC also previously suggested unsecured debt like credit cards and loans will increase by £1,400 per household, in real terms, this year.*
Am I the only one that feels like the UK has some kind of Pandora’s economy, one second we are outstripping growth of most other countries, the next the pound is worthless, now we are set for record growth and things are really looking up, whoops actually the finance sector has all moved out of London, but dont worry we have the 2nd largest amount of tech startups and the future is golden.
I know media loves sensationalising things but christ I almost just shut down the second I see anything economy related now.
It’s OK. I heard him today on PM Connect, he’s on it now.
I was assured in 2016 that sovereignty was priceless, so stop whinging about being worse off.
We definitely come first in G7 for blaming the pandemic for all our woes though.
None of those woes have anything to do with Brexit or the Tories’ weaponised incompetence of course.
How long would it take before we get relegated from the G7 hahaha
Lmao you guys might get oofed from the g7 if you keep being so shit xD
Yeah this tends to happen when you don’t have a capable government.
Fair enough but we have blue passports and we are free to drink wine by the pint
Obviously, the tory party simply used the pandemic as a vehicle to shovel as much public money into theirs and their chums pockets. You can just give billions of pounds away from an already fragile economy and expect it to recover.
Well, you hire clowns and you get a circus, just a shame our country’s also become a sad joke, much like the clowns running the circus.
Well, The Tories wanted to be world beating.. They are in all the wrong ways again.
12 comments
*The UK is now the only country in the* [*G7*](https://www.huffingtonpost.co.uk/news/g7) *where household budgets are still not back to where they were before* [*Covid*](https://www.huffingtonpost.co.uk/news/covid) *hit, according to new research.*
[*Analysis*](https://www.tuc.org.uk/news/tuc-uk-families-suffering-worst-decline-living-standards-g7#:~:text=The%20TUC%20estimates%20that%20if,750%20a%20year%20better%20off.&text=The%20union%20body%20warned%20that,get%20worse%20%E2%80%93%20despite%20falling%20inflation.) *from the Trades Union Congress (*[*TUC*](https://www.tuc.org.uk/news/tuc-uk-families-suffering-worst-decline-living-standards-g7#:~:text=The%20TUC%20estimates%20that%20if,750%20a%20year%20better%20off.&text=The%20union%20body%20warned%20that,get%20worse%20%E2%80%93%20despite%20falling%20inflation.)*) suggests the UK is facing the worst decline in living standards out of all its counterparts in the forum.*
*In fact, the findings – based on figures from the Organisation for Economic Co-operation and Development (OECD) – real household disposable incomes were still 1.2% lower in the second quarter of 2023 than they were at the end of 2019, shortly before the first lockdown hit.*
*Meanwhile, across the G7, real household disposable incomes grew by 3.5% on average – although there was still significant range between countries.*
*The US saw an increase of 6%, Canada 3%, France 2.4%, Japan 0.5%, Germany 0.2% and Italy 0.1%.*
*The trade union body also estimated that British families would be £750 better off each year if the UK’s real disposable income had kept up with the other leading economies.*
*TUC general secretary Paul Nowak said the findings were a “damning indictment on the Conservatives’ economic record”.*
*He added: “Their failure to deliver decent growth and living standards over the last 13 years has left millions exposed to skyrocketing bills – and is pushing many deeper into debt.*
*“We can’t go on like this. Britain cannot afford the Tories for a day longer.”*
*Although* [*Rishi Sunak*](https://www.huffingtonpost.co.uk/news/rishi-sunak) *did manage to deliver on his pledge to halve inflation by the end of 2023 (cutting it to 3.9%), predictions from the Office for Budget Responsibility predict disposable income per person will fall by an extra 3.4% by the end of 2024′s first quarter.*
*Sunak also broke a key pledge* [*after the economy shrunk last year,* ](https://www.huffingtonpost.co.uk/entry/rishi-sunak-breaks-key-pledge-to-voters-as-economy-shrinks_uk_65795c5be4b0db9d2ab78c0c)*when official figures found GDP fell by a bigger-than-expected 0.3% in October.*
*TUC’s findings come as the UK’s tax burden remains heavy, interest rates are at a 15-year-high, and the*[ *cost of living crisis*](https://www.huffingtonpost.co.uk/news/cost-of-living-crisis) *has dragged on for more than two years.*
*The same forecasts suggest we won’t be back on track with disposable income until 2026, while living standards will not return to their 2008 levels until 2028.*
*The union estimated that since the financial crash 15 years ago, the average worker has lost £14,800 as the UK has fallen behind real wage trends.*
*TUC also previously suggested unsecured debt like credit cards and loans will increase by £1,400 per household, in real terms, this year.*
*Only last month, the Resolution Foundation and LSE* [*suggested*](https://www.theguardian.com/uk-news/2023/dec/04/british-workers-missing-out-on-10700-a-year-as-living-standards-fall) *British workers are missing out on £10,700 each year – and that a living standards gap worth £8,300 now exists between the UK and other comparably wealthy countries.*
Am I the only one that feels like the UK has some kind of Pandora’s economy, one second we are outstripping growth of most other countries, the next the pound is worthless, now we are set for record growth and things are really looking up, whoops actually the finance sector has all moved out of London, but dont worry we have the 2nd largest amount of tech startups and the future is golden.
I know media loves sensationalising things but christ I almost just shut down the second I see anything economy related now.
It’s OK. I heard him today on PM Connect, he’s on it now.
I was assured in 2016 that sovereignty was priceless, so stop whinging about being worse off.
We definitely come first in G7 for blaming the pandemic for all our woes though.
None of those woes have anything to do with Brexit or the Tories’ weaponised incompetence of course.
How long would it take before we get relegated from the G7 hahaha
Lmao you guys might get oofed from the g7 if you keep being so shit xD
Yeah this tends to happen when you don’t have a capable government.
Fair enough but we have blue passports and we are free to drink wine by the pint
Obviously, the tory party simply used the pandemic as a vehicle to shovel as much public money into theirs and their chums pockets. You can just give billions of pounds away from an already fragile economy and expect it to recover.
Well, you hire clowns and you get a circus, just a shame our country’s also become a sad joke, much like the clowns running the circus.
Well, The Tories wanted to be world beating.. They are in all the wrong ways again.