Professor David Miles of the OBR has described the weakness of living standards as "practically unheard of in the history of the UK", Brit Brief reports.
"It has been a dismal period in British economic history."
His remarks follow the publication of the OBR's Economic and Fiscal Outlook alongside the Chancellor's Budget. The watchdog expects "no real earnings growth in 2027". It forecasts household disposable income to fall in the near term and to be only 2% above pre-pandemic levels by 2030-31.
Brit Brief reports the quote alongside Joseph Rowntree Foundation analysis of household disposable income.