With the energy price cap up 54 per cent, a tax rise looming and inflation forecast to hit 7.25 per cent in April, the Bank of England announced on 3 February that there would be a 2 per cent fall in incomes this year, the worst since records began in 1990.
This means the British public is facing the biggest squeeze on their incomes in 30 years. It was a dark day for living standards.
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