Real wage growth will be worst in 70 years says IFS

UK households are facing their worst period for earnings growth for 70 years after a sharp downgrade in the economic outlook, a leading think-tank has warned. The Institute for Fiscal Studies (IFS) said workers were facing the "dreadful" prospect of more than a decade without real terms wage growth, in a briefing a day after the Chancellor's Autumn Statement. It said new forecasts produced by the independent Office for Budget Responsibility (OBR) showed that the outlook for living standards "has