Ten Things You Need to Know Today: 24 March 2022

The Week’s daily digest of the news agenda, published at 8am

1. Historic fall in living standards

Official forecasts have shown that Britain is facing the biggest fall in living standards since records began in 1956. The Office for Budget Responsibility said they would fall by 2.2% in the next tax year, the largest reduction in a year and twice the size of the falls during the oil shocks of the 1970s and 1980s. It also predicted that household energy bills will surge to about £2,800 a year from October, when the price cap on standard tariffs is expected to rise by a record £830.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us