LONDON, Nov 23 (Reuters) - British voters are set to suffer a "living standards disaster", despite Finance Minister Jeremy Hunt's new tax cut plan, because of the unprecedented fall in household incomes over the course of a parliamentary term, a think tank said on Thursday.
The think tank said household disposable income per person was expected to fall 1.5% in 2024, when adjusted for Britain's still high rate of inflation.
"But those challenges have also made things far more difficult for households: this is what a living standards disaster looks like."
And that then means having to make some really difficult decisions when it comes to public spending but also raising revenue," he told Reuters.
($1 = 0.8025 pounds)Reporting by David Milliken and Bill Schomberg; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.
Persons:
Jeremy Hunt's, Hunt, Rishi Sunak, Torsten Bell, Gareth Davies, Davies, David Milliken, Bill Schomberg, Sharon Singleton
Organizations:
Labour Party, Conservative, Reuters, Fiscal Studies, Treasury, Thomson