Osborne admits all families are worse off as Britain drops down Europe"s standard of living league table

Britain drops two places in Euro standard of living table as nation falls behind Germany and Austria New figures show the UK slipping down the European league tableBritain now ranked sixth, down from fourth in 2010Families have only 19 days worth of savings if breadwinner loses job | UPDATED: 01:24 GMT, 14 December 2012 Britain has slipped down the European league table on living standards as families continue to feel the pinch of the economic downturn. An in-depth analysis by the EU measured material consumption in 37 European countries, including both private purchases and state spending, to give an accurate measurement of how well off people really are.