Mubasher: United Kingdom is seeing the longest fall in living standards since records began, 64 years ago, while wages will not return to their normal levels before 2025.
UK economy reported a slight growth increase in the third quarter of 2017 by 0.4% from 0.3% in the previous quarter, according to the Office for National Statistics.
That brings the annual growth rate in Q3-17 to 1.5%, the weakest growth over five years, the national statistics office added.
“The British people are already paying money every time they go shopping because prices have gone up, they actually can buy less with their money,” said Dennis Novy, research fellow at the Center for Economic Performance.
“But it actually adds up to a lot of money, so the British people are already paying for Brexit, even though Brexit hasn’t even happened yet,” Novy added.
