Britain is facing the worst pay growth since the Napoleonic Wars at the start of the 19th century, according to an independent think tank.

After assessing yesterday's Budget, the Resolution Foundation has predicted that real average earnings will only return to their pre-crisis peak (2007) by the end of 2022.

It said the current decade is set to be worst for pay increases since Napoleon Bonaparte (pictured) battled against a number of European powers, particularly Britain, between 1803 and 1815.

According to the Resolution Foundation, a dual-earning couple with two children and combined earnings of £29,020 will be £360 a year worse off by 2020.

Torsten Bell, director of the Resolution Foundation, said: "The big picture from yesterday's Budget is that the big squeezes on both the public and family finances have been prolonged well into the 2020s.

"On the public finances, the focus on good news this year has hidden the fact that the Office for Budget Responsibility (OBR) has stuck to its pessimistic guns from the Autumn Statement about the fate of Brexit Britain's economy.

"The weak medium term outlook for borrowing means we're still only halfway through the fiscal consolidation that was supposed to have finished by now.

"And while the OBR at least delivered some good news on borrowing, the family finances picture has actually deteriorated since the autumn.

"Britain is set for a return to falling real pay later this year, with this decade now set to be the worst for pay growth since the Napoleonic wars.

"Some households will feel the pinch more than others. The combination of weak pay growth and over £12billion of benefit cuts means that for the poorest third of households this parliament is actually set to be worse than the years following the financial crisis.

"Of course, the OBR forecasts can and should change. Tackling the living standards squeeze facing low and middle income households should be a priority for future Budgets."

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