a post by Torsten Bell for the Resolution Foundation blog
2018 looks set to be a standstill year. On the biggest political issue of our time we will spend all 365 days of it leaving, but not out of, the EU. It also looks set to be a standstill year for our economy as most people experience it – on pay and employment we may well end it pretty much where we began.
That flat pay may be seen as good news shows quite how far we’ve come as a country. The recent catastrophe of wages in Britain has well and truly managed our expectations. The living standards story of 2017 was the return of shrinking pay packets – still £15 a week below their pre-crisis peak and not forecast to fully recover until 2025. Far from catching back up, we’ve started digging again.
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