Middle-income households hardest hit in UK

The typical UK household will take “a permanent 3.7% income hit” following the increase in personal taxes announced by chancellor Hunt on Thursday. – Reuters

LONDON: Britain’s middle-income households will be hit hardest by an “unprecedented” collapse in living standards, stagnating wages and tax increases in the government’s latest fiscal plan, says the Resolution Foundation research group.

The typical UK household will take “a permanent 3.7% income hit” following the increase in personal taxes announced by Chancellor of the Exchequer Jeremy Hunt in Thursday’s autumn statement.