UK Households Expected £400 Worse Off Amid Tax and Bill Increases

British households are projected to be £400 worse off this year due to rising taxes, soaring utility bills, and stagnant benefits, according to the Resolution Foundation. The freeze on personal tax thresholds and increased employer National Insurance contributions are expected to reduce incomes by an average of £170 annually. Additionally, council tax will rise by an average of £80, while water bills are set to increase by £120, compounded by a £111 hike in the energy price cap. The think tank warns that the poorest households will face an even sharper decline in disposable income, with a 2% drop expected. Despite claims from the government about potential improvements in household finances, the outlook remains