UK debt ‘will not fall to pre-2008 levels for 50 years’

Resolution Foundation condemns two decades of wage stagnation and says productivity worst since Napoleonic War

Ominous times ahead of the nations finances
(Image credit: Dan Kitwood/AFP/Getty Images)

Britain faces the longest fall in living standards since records began - and its public debt will not fall below pre-crisis levels until the 2060s.

That is the withering assessment of the nation’s finances following Wednesday’s budget by two of the UK’s leading financial think tanks.

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