The Living Standards Audit 2021

In this report, our latest Living Standards Audit, we look back at how incomes were faring before the Covid-19 crisis; how they have endured during the pandemic; and what the pandemic will mean for future living standards. In particular, we closely analyse the labour market, looking at trends for workers affected by Covid-19 over the past 16 months, using our latest Covid-19 survey of 8,000 adults.

Moreover, the future will bring more living standards challenges, such as new trading arrangements and the path to net zero. These will start to have direct implications for household finances and government spending during this Parliament, as well as complicate the perennial challenge of how to improve the UK’s productivity record which is so key to long-term living standards improvements.