The Institute for Fiscal Studies warns that UK households are facing their worst period for earnings growth since World

The video discusses the economic impact of Brexit, highlighting a £59 billion cost and a significant financial squeeze on households, the worst since WWII. It explores the struggles of lower-income families and the intergenerational wage gap, with older generations seeing wage increases while younger ones face declines. The government is taking steps like raising the national living wage and tax allowances to counteract these issues, but the long-term economic direction remains uncertain.

What was the estimated financial cost of Brexit mentioned in the video?

• £100 billion

• £59 billion

• £50 billion

• £75 billion

Which group is most affected by the benefits freeze introduced by George Osborne?

• Middle-income families

• High-income families

• Lower-income families

• Retired individuals

How have real wages changed for people over 60 since 2008?

• Decreased by 11%

• Increased by 11%

• Increased by 5%

• Remained the same

What is one of the measures the government is taking to help people financially?

• Reducing the national living wage

• Raising interest rates

• Increasing personal tax allowance

• Cutting public services

According to the video, when will we likely know the direction of the UK economy?

• In a few years

• In a few weeks

• In a few months

• In a decade