Average real (inflation-adjusted) pay may return in 2007 levels in 2017 if inflation remains low according to a report that was published last weekend. The Resolution Foundation (RF), the UK think-tank, has today followed up with a report on the National Living Wage (NLW), which was proposed by George Osborne, the chancellor, in a budget last July — one in four workers will get a pay rise from the new national living wage according to the research. The impact will be greatest in hospitality, retail and support services.