Over the past 15 years the average British household has been left £8,800 poorer than its equivalent in five comparable countries, France, Germany, Australia, Canada and the Netherlands, a report from the Resolution Foundation said.
If the UK matched the average income and inequality levels of those countries, typical household incomes in Britain would be a third higher and those of the poorest households two-fifths greater.
The Resolution Foundation said the UK had closed the productivity gap with France and Germany in the 1990s and the first half of the 2000s, but since then the gap had widened from 6% to 16% – the equivalent of £3,700 per person.
While the top 10% of households in Britain were richer than those in many other European countries, middle-income British households were 9% poorer than their counterparts in France, while the poorest fifth of households in Britain were more than 20% poorer than their French and German equivalents.
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