Living standards were 21pc higher in the UK compared with the average in the EU, the statistics office Eurostat said. In Luxembourg standards were 50pc higher. Germany took third place, followed by the Netherlands and Austria.
Individual consumption was used as the measure, often cited because it includes all goods and services that a household consumes, regardless of whether they pay for them.
That way Britain\’s rating is boosted by public services such as health and education, which are largely government funded.
Bulgaria was judged to have the lowest standard of living, 58pc below that of the EU average.
The data was at odds with recent comments by Sir Mervyn King, Governor of the Bank of England, who warned that British households are facing the biggest squeeze in living standards since the 1920s.
You really would hope that an \”economics correspondent\” would get this.
The Eurostat measure is of the absolute level. The BoE one is of changes in that level.
It most certainly can be true that living standards are high but not rising very much, high but falling. There is no \”at odds\” here at all.
Come along now, it\’s like the difference between speed and acceleration, level and changes in the level. Nothing tough about it at all.