Overview

• Median household incomes are projected to rise by just 1% above inflation between 2024-25 and 2029-30, leaving real disposable incomes flat over the full decade
• Lower-income non-pensioner households face a 1% (£200) drop in real terms by 2029-30, with the poorest 10% potentially 8% (£1,000) worse off than in 2019-20
• Pensioner living standards are forecast to climb by 5% (about £1,500) over the latter half of the decade under the triple-lock guarantee
• Mortgaged homeowners are set to see a 1% fall in real incomes as fixed-rate deals expire, while outright owners could gain roughly 3%
• Child poverty is on course to hit a record 4.8 million by 2029-30 unless measures like ending the two-child benefit cap are enacted